Immatics (NASDAQ:IMTX) Trading Down 3.2% – Here’s Why

Immatics (NASDAQ:IMTX) shares traded down 3.2% during mid-day trading on Tuesday . The stock traded as low as $4.92 and last traded at $5.12. Approximately 21,412 shares were traded during trading, a decline of 97% from the average session volume of 655,116 shares. The stock had previously closed at $5.29.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a report on Tuesday, April 1st.

Immatics Price Performance

The stock’s fifty day simple moving average is $4.49 and its 200-day simple moving average is $5.79. The company has a market capitalization of $629.63 million, a P/E ratio of -7.85 and a beta of 0.87.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.04. Immatics had a negative return on equity of 15.90% and a negative net margin of 47.94%. The company had revenue of $20.12 million during the quarter, compared to analyst estimates of $14.92 million. On average, research analysts predict that Immatics will post -0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its holdings in Immatics by 166.0% during the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after buying an additional 2,231 shares during the last quarter. Virtus ETF Advisers LLC lifted its position in shares of Immatics by 34.8% in the fourth quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock valued at $68,000 after buying an additional 2,479 shares during the last quarter. Pale Fire Capital SE raised its stake in Immatics by 8.9% in the 1st quarter. Pale Fire Capital SE now owns 34,270 shares of the company’s stock valued at $155,000 after acquiring an additional 2,808 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Immatics by 24.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,701 shares of the company’s stock valued at $163,000 after purchasing an additional 4,477 shares during the last quarter. Finally, Forefront Analytics LLC increased its holdings in shares of Immatics by 42.3% in the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock valued at $113,000 after purchasing an additional 4,731 shares during the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

Immatics Company Profile

Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the research and development of potential T cell redirecting immunotherapies for the treatment of cancer in the United States. The company is developing targeted immunotherapies with a focus on treating solid tumors through two distinct treatment modalities, such as TCR-engineered autologous or allogeneic adoptive cell therapies (ACT) and antibody-like TCR Bispecifics.