Woodline Partners LP Reduces Stake in Immatics N.V. $IMTX

Key Points

• Woodline Partners LP has reduced its stake in Immatics N.V. (NASDAQ:IMTX) by 17.2%, owning approximately 1.39% of the company worth $7.60 million as of the latest filing.
• Recent analyst ratings for Immatics include a "buy" rating from Deutsche Bank with a price target of $10.00, while Zacks and Wall Street Zen have downgraded the stock to "strong sell."
• Immatics reported a quarterly loss of ($0.66) EPS, significantly missing analysts' expectations, along with a revenue of $6.48 million against a consensus estimate of $13.05 million.

Woodline Partners LP reduced its stake in shares of Immatics N.V. (NASDAQ:IMTX - Free Report) by 17.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,684,285 shares of the company's stock after selling 349,939 shares during the quarter. Woodline Partners LP owned approximately 1.39% of Immatics worth $7,596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in IMTX. Bank of America Corp DE raised its holdings in shares of 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 in the last quarter. Intellectus Partners LLC bought a new stake in shares of Immatics in the first quarter valued at about $70,000. Exchange Traded Concepts LLC raised 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 acquiring an additional 12,425 shares in the last quarter. Graham Capital Management L.P. bought a new stake in shares of Immatics in the fourth quarter valued at about $130,000. Finally, Pale Fire Capital SE raised its holdings in Immatics by 8.9% in the first quarter. Pale Fire Capital SE now owns 34,270 shares of the company's stock worth $155,000 after purchasing an additional 2,808 shares in the last quarter. 64.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IMTX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Immatics in a report on Wednesday, May 28th. They issued a "buy" rating and a $10.00 target price for the company. Wall Street Zen downgraded shares of Immatics from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. Finally, Zacks Research downgraded shares of Immatics from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $14.67.

Immatics Stock Performance

Shares of IMTX stock remained flat at $6.00 during trading hours on Wednesday. The stock had a trading volume of 107,169 shares, compared to its average volume of 774,880. Immatics N.V. has a 1-year low of $3.30 and a 1-year high of $12.56. The stock has a market cap of $729.30 million, a PE ratio of -9.23 and a beta of 1.02. The firm has a 50-day moving average price of $5.99 and a two-hundred day moving average price of $5.30.

Immatics (NASDAQ:IMTX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.66) earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $13.05 million. On average, equities analysts expect that Immatics N.V. will post -0.72 earnings per share for the current fiscal year.

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.