683 Capital Management LLC Cuts Holdings in Immatics (NASDAQ:IMTX)

683 Capital Management LLC cut its holdings in shares of Immatics (NASDAQ:IMTX - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 650,000 shares of the company's stock after selling 50,000 shares during the period. 683 Capital Management LLC owned approximately 0.54% of Immatics worth $4,622,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. lifted its position in shares of Immatics by 43.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,604,777 shares of the company's stock valued at $75,400,000 after buying an additional 3,225,141 shares during the last quarter. Wellington Management Group LLP raised its stake in Immatics by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 10,417,892 shares of the company's stock valued at $74,071,000 after acquiring an additional 736,709 shares during the period. Schroder Investment Management Group lifted its holdings in Immatics by 52.6% during the fourth quarter. Schroder Investment Management Group now owns 427,994 shares of the company's stock valued at $2,953,000 after purchasing an additional 147,547 shares during the last quarter. abrdn plc boosted its position in Immatics by 49.2% during the fourth quarter. abrdn plc now owns 347,379 shares of the company's stock worth $2,470,000 after purchasing an additional 114,479 shares during the period. Finally, Platinum Investment Management Ltd. increased its stake in shares of Immatics by 53.1% in the fourth quarter. Platinum Investment Management Ltd. now owns 311,722 shares of the company's stock worth $2,216,000 after purchasing an additional 108,108 shares in the last quarter. Institutional investors and hedge funds own 64.41% of the company's stock.

Immatics Price Performance

IMTX stock traded up $0.22 during mid-day trading on Friday, reaching $5.23. 698,994 shares of the company traded hands, compared to its average volume of 655,477. The company has a fifty day moving average price of $4.46 and a 200-day moving average price of $6.16. Immatics has a 52-week low of $3.30 and a 52-week high of $13.77. The company has a market capitalization of $635.71 million, a P/E ratio of -7.92 and a beta of 0.85.

Immatics (NASDAQ:IMTX - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.51. Immatics had a negative net margin of 47.94% and a negative return on equity of 15.90%. The company had revenue of $15.67 million during the quarter, compared to analysts' expectations of $16.16 million. As a group, analysts forecast that Immatics will post -0.72 EPS for the current year.

Analyst Ratings Changes

Separately, Cantor Fitzgerald restated an "overweight" rating on shares of Immatics in a research note on Tuesday, April 1st. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $16.67.

About Immatics

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.