Wellington Management Group LLP Sells 1,834,324 Shares of Immatics N.V. $IMTX

Key Points

• Wellington Management Group LLP has reduced its stake in Immatics N.V. by 17.6%, selling 1,834,324 shares, and now owns approximately 7.06% of the company valued at $38.7 million.
• Immatics reported a substantial earnings miss in its last quarter with EPS at ($0.66), falling short of analyst expectations of ($0.38), and estimated revenues of $6.48 million compared to forecasts of $13.05 million.
• The stock received mixed ratings from analysts, with a current average rating of "Moderate Buy" and an average price target of $14.67, despite recent downgrades from some firms to a "strong sell" rating.

Wellington Management Group LLP lessened its holdings in Immatics N.V. (NASDAQ:IMTX - Free Report) by 17.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,583,568 shares of the company's stock after selling 1,834,324 shares during the period. Wellington Management Group LLP owned about 7.06% of Immatics worth $38,712,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Algert Global LLC lifted its stake 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 during the period. Aberdeen Group plc raised its position in shares of Immatics by 107.1% during the first quarter. Aberdeen Group plc now owns 719,586 shares of the company's stock valued at $3,245,000 after buying an additional 372,207 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Immatics during the first quarter valued at approximately $430,000. XTX Topco Ltd purchased a new position in shares of Immatics in the first quarter valued at $573,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Immatics by 94.5% in the first quarter. Exchange Traded Concepts LLC now owns 25,580 shares of the company's stock valued at $115,000 after purchasing an additional 12,425 shares in the last quarter. Institutional investors own 64.41% of the company's stock.

Immatics Price Performance

Shares of NASDAQ:IMTX traded down $0.10 on Thursday, hitting $5.30. 172,525 shares of the company's stock were exchanged, compared to its average volume of 756,850. Immatics N.V. has a 12 month low of $3.30 and a 12 month high of $13.09. The stock has a market capitalization of $643.85 million, a price-to-earnings ratio of -8.18 and a beta of 0.93. The business's 50 day simple moving average is $5.96 and its two-hundred day simple moving average is $5.21.

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

Analysts Set New Price Targets

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

Immatics Company 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.