Immatics N.V. $IMTX Shares Sold by Paradigm Biocapital Advisors LP

Key Points

• Paradigm Biocapital Advisors LP reduced its holdings in Immatics N.V. (IMTX) by 64.8%, now owning 1,907,108 shares, which constitutes only 0.4% of its total portfolio.
• Investment activity around Immatics shows mixed trends, with T. Rowe Price increasing its stake by 38.4% while others like Paradigm Biocapital have significantly cut back.
• Immatics has faced significant downgrades from analysts, with Wall Street Zen and Zacks Research both revising their ratings from "hold" to "strong sell."

Paradigm Biocapital Advisors LP trimmed its holdings in shares of Immatics N.V. (NASDAQ:IMTX - Free Report) by 64.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,907,108 shares of the company's stock after selling 3,507,301 shares during the period. Immatics makes up about 0.4% of Paradigm Biocapital Advisors LP's portfolio, making the stock its 27th biggest position. Paradigm Biocapital Advisors LP owned about 1.57% of Immatics worth $8,601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its stake in Immatics by 38.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 14,677,003 shares of the company's stock valued at $66,194,000 after acquiring an additional 4,072,226 shares during the period. Wellington Management Group LLP grew its holdings in Immatics by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 10,417,892 shares of the company's stock worth $74,071,000 after acquiring an additional 736,709 shares during the period. Baker BROS. Advisors LP grew its holdings in Immatics by 12.9% during the fourth quarter. Baker BROS. Advisors LP now owns 7,275,830 shares of the company's stock worth $51,731,000 after acquiring an additional 832,432 shares during the period. Vestal Point Capital LP grew its holdings in Immatics by 67.3% during the fourth quarter. Vestal Point Capital LP now owns 6,275,000 shares of the company's stock worth $44,615,000 after acquiring an additional 2,525,000 shares during the period. Finally, Suvretta Capital Management LLC acquired a new position in shares of Immatics in the 4th quarter valued at $36,014,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.

Immatics Price Performance

Shares of Immatics stock traded up $0.11 during trading hours on Wednesday, reaching $5.45. 548,951 shares of the company's stock were exchanged, compared to its average volume of 723,656. Immatics N.V. has a 1 year low of $3.30 and a 1 year high of $13.09. The business has a fifty day moving average of $5.93 and a two-hundred day moving average of $5.21.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $6.48 million during the quarter, compared to analysts' expectations of $13.05 million. On average, equities analysts anticipate that Immatics N.V. will post -0.72 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on IMTX shares. Wall Street Zen downgraded shares of Immatics from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft started coverage on Immatics in a research note on Wednesday, May 28th. They issued a "buy" rating and a $10.00 price target for the company. Finally, Zacks Research cut Immatics from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.67.

Immatics Profile

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.