Immatics N.V. $IMTX Stake Lessened by Sectoral Asset Management Inc.

Sectoral Asset Management Inc. lessened its stake in Immatics N.V. (NASDAQ:IMTX) by 88.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,015 shares of the company’s stock after selling 497,479 shares during the period. Sectoral Asset Management Inc. owned about 0.05% of Immatics worth $662,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in Immatics by 166.0% in the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after purchasing an additional 2,231 shares during the period. Insigneo Advisory Services LLC acquired a new position in Immatics in the third quarter worth $103,000. Engineers Gate Manager LP acquired a new position in Immatics in the second quarter worth $124,000. Verition Fund Management LLC acquired a new position in Immatics in the third quarter worth $385,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Immatics by 8.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 47,635 shares of the company’s stock worth $406,000 after purchasing an additional 3,666 shares during the period. Institutional investors and hedge funds own 64.41% of the company’s stock.

Wall Street Analyst Weigh In

IMTX has been the subject of a number of research reports. Mizuho set a $25.00 price objective on shares of Immatics in a report on Thursday, February 19th. Jefferies Financial Group initiated coverage on shares of Immatics in a report on Monday, March 16th. They issued a “buy” rating and a $18.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Immatics in a report on Tuesday, May 19th. Wall Street Zen downgraded shares of Immatics from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, TD Cowen initiated coverage on shares of Immatics in a report on Tuesday, April 28th. They issued a “buy” rating for the company. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Immatics Stock Performance

Shares of IMTX opened at $11.62 on Monday. Immatics N.V. has a 1 year low of $4.93 and a 1 year high of $12.41. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -5.84 and a beta of 1.31. The firm has a fifty day moving average of $10.58 and a 200-day moving average of $10.19.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.08). Immatics had a negative net margin of 572.35% and a negative return on equity of 47.36%. The firm had revenue of $8.81 million for the quarter, compared to analyst estimates of $9.79 million. Analysts predict that Immatics N.V. will post -1.75 EPS for the current year.

About Immatics

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.