Frazier Life Sciences Management L.P. Sells 900,000 Shares of Immatics N.V. $IMTX

Key Points

• Frazier Life Sciences Management L.P. reduced its stake in Immatics N.V. by 41.9%, selling 900,000 shares in the first quarter, leaving them with 1,247,911 shares valued at approximately $5.63 million.
• Analysts have lowered their outlook on Immatics, with Zacks Research and Wall Street Zen both issuing a "strong sell" rating, while Deutsche Bank initiated coverage with a "buy" rating and a $10.00 price target.
• Immatics recently reported disappointing earnings with a loss of $0.66 earnings per share, missing analyst expectations and generating $6.48 million in revenue against a projected $13.05 million.

Frazier Life Sciences Management L.P. lowered its holdings in shares of Immatics N.V. (NASDAQ:IMTX - Free Report) by 41.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,247,911 shares of the company's stock after selling 900,000 shares during the period. Frazier Life Sciences Management L.P. owned approximately 1.03% of Immatics worth $5,628,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of IMTX. Bank of America Corp DE grew its stake in Immatics by 166.0% in the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company's stock valued at $25,000 after acquiring an additional 2,231 shares during the period. Pale Fire Capital SE increased its holdings in shares of Immatics by 8.9% in the 1st quarter. Pale Fire Capital SE now owns 34,270 shares of the company's stock worth $155,000 after buying an additional 2,808 shares during the last quarter. Forefront Analytics LLC raised its position in shares of Immatics by 42.3% during the 4th quarter. Forefront Analytics LLC now owns 15,911 shares of the company's stock valued at $113,000 after buying an additional 4,731 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Immatics by 31.5% in the 4th quarter. Northern Trust Corp now owns 47,226 shares of the company's stock worth $336,000 after purchasing an additional 11,304 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in shares of Immatics by 20.6% in the 1st quarter. Algert Global LLC now owns 70,668 shares of the company's stock worth $319,000 after purchasing an additional 12,072 shares in the last quarter. Institutional investors own 64.41% of the company's stock.

Immatics Trading Up 9.4%

NASDAQ IMTX traded up $0.54 on Friday, hitting $6.26. 3,222,693 shares of the company traded hands, compared to its average volume of 823,409. The business's 50 day moving average price is $5.95 and its 200-day moving average price is $5.23. Immatics N.V. has a 52-week low of $3.30 and a 52-week high of $13.09. The company has a market capitalization of $760.90 million, a price-to-earnings ratio of -9.63 and a beta of 1.02.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.28). Immatics had a negative net margin of 59.29% and a negative return on equity of 15.60%. The business had revenue of $6.48 million during the quarter, compared to analysts' expectations of $13.05 million. As a group, sell-side analysts predict that Immatics N.V. will post -0.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Immatics in a report on Wednesday, May 28th. They set a "buy" rating and a $10.00 target price for the company. Zacks Research lowered Immatics from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Finally, Wall Street Zen lowered Immatics from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $14.67.

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.