Immatics (NASDAQ:IMTX) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. decreased its holdings in shares of Immatics (NASDAQ:IMTX - Free Report) by 54.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,002 shares of the company's stock after selling 391,250 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.28% of Immatics worth $2,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. lifted its stake in Immatics by 43.7% in 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 in the last quarter. Wellington Management Group LLP raised its holdings in shares of Immatics by 7.6% during the fourth 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 last quarter. Schroder Investment Management Group lifted its position in shares of Immatics by 52.6% in the fourth quarter. Schroder Investment Management Group now owns 427,994 shares of the company's stock valued at $2,953,000 after acquiring an additional 147,547 shares in the last quarter. abrdn plc boosted its stake in shares of Immatics by 49.2% in the fourth quarter. abrdn plc now owns 347,379 shares of the company's stock worth $2,470,000 after acquiring an additional 114,479 shares during the last quarter. Finally, Platinum Investment Management Ltd. increased its position in shares of Immatics by 53.1% during 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

Shares of NASDAQ:IMTX traded up $0.22 during midday trading on Friday, hitting $5.23. The company had a trading volume of 698,994 shares, compared to its average volume of 655,477. Immatics has a twelve month low of $3.30 and a twelve month high of $13.77. The stock has a market cap of $635.71 million, a price-to-earnings ratio of -7.92 and a beta of 0.85. The business's 50-day simple moving average is $4.46 and its 200-day simple moving average is $6.18.

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

Analyst Ratings Changes

Separately, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immatics in a research note on Tuesday, April 1st. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Immatics currently has an average rating of "Buy" and a consensus target price 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.