Immatics (NASDAQ:IMTX) Shares Gap Down – Should You Sell?

Shares of Immatics N.V. (NASDAQ:IMTX) gapped down before the market opened on Tuesday . The stock had previously closed at $10.00, but opened at $9.53. Immatics shares last traded at $10.1550, with a volume of 215,345 shares traded.

Analyst Ratings Changes

Several brokerages recently commented on IMTX. Chardan Capital reissued a “buy” rating and issued a $25.00 price target on shares of Immatics in a report on Monday, November 24th. Leerink Partners reiterated an “outperform” rating and issued a $17.00 target price on shares of Immatics in a research report on Thursday, December 4th. Guggenheim upped their price target on shares of Immatics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immatics in a research note on Thursday, January 22nd. Finally, Mizuho set a $25.00 price objective on Immatics in a report on Thursday, February 19th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.20.

Immatics Price Performance

The stock’s fifty day moving average price is $9.88 and its 200-day moving average price is $9.25. The firm has a market cap of $1.25 billion, a PE ratio of -5.56 and a beta of 1.34.

Immatics (NASDAQ:IMTX) last released its quarterly earnings data on Thursday, March 5th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.14. Immatics had a negative return on equity of 41.81% and a negative net margin of 411.90%.The company had revenue of $23.00 million for the quarter, compared to analyst estimates of $12.18 million. On average, sell-side analysts anticipate that Immatics N.V. will post -0.72 earnings per share for the current fiscal year.

Institutional Trading of Immatics

Hedge funds and other institutional investors have recently modified their holdings of the business. Jefferies Financial Group Inc. raised its holdings in Immatics by 323.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 5,059,551 shares of the company’s stock valued at $53,125,000 after buying an additional 3,864,636 shares during the period. RTW Investments LP boosted its stake in Immatics by 29.7% during the fourth quarter. RTW Investments LP now owns 11,433,354 shares of the company’s stock worth $120,050,000 after buying an additional 2,617,737 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Immatics by 10.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,459,156 shares of the company’s stock valued at $225,322,000 after acquiring an additional 2,075,987 shares during the last quarter. Baker BROS. Advisors LP raised its stake in shares of Immatics by 18.9% in the 3rd quarter. Baker BROS. Advisors LP now owns 12,094,094 shares of the company’s stock valued at $103,042,000 after acquiring an additional 1,925,193 shares during the period. Finally, Sofinnova Investments Inc. lifted its holdings in shares of Immatics by 54.2% in the 4th quarter. Sofinnova Investments Inc. now owns 3,435,542 shares of the company’s stock worth $36,073,000 after acquiring an additional 1,207,705 shares during the last quarter. 64.41% of the stock is owned by institutional investors and hedge funds.

Immatics Company Profile

Immatics N.V. (NASDAQ: IMTX) is a clinical-stage biotechnology company dedicated to the development of T cell receptor (TCR)-based immunotherapies for solid tumors. The company leverages its proprietary discovery and engineering platforms to identify tumor-specific peptide targets and develop therapies that harness the power of a patient’s immune system. Immatics’ approach aims to generate durable responses by guiding T cells to recognize and kill cancer cells with high precision.

At the core of Immatics’ technology suite is the XPRESIDENT® platform, which mines the cancer peptidome to uncover novel tumor antigens naturally presented on the surface of cancer cells.