Zimmer Partners LP Cuts Stake in Immatics N.V. $IMTX

Key Points

• Zimmer Partners LP has reduced its stake in Immatics N.V. by 64.0%, owning approximately 145,990 shares after selling 259,010 shares in the first quarter.
• Despite the decrease in Zimmer Partners' holdings, other investors like Bank of America Corp DE have increased their stake in Immatics by 166.0%, signifying mixed sentiment among institutional investors.
• Immatics reported a loss of $0.66 per share for its last quarter, falling short of expectations with revenue of only $6.48 million compared to the estimated $13.05 million.

Zimmer Partners LP decreased its holdings in Immatics N.V. (NASDAQ:IMTX - Free Report) by 64.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 145,990 shares of the company's stock after selling 259,010 shares during the period. Zimmer Partners LP owned approximately 0.12% of Immatics worth $658,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of Immatics by 166.0% in the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company's stock valued at $25,000 after purchasing an additional 2,231 shares in the last quarter. Intellectus Partners LLC purchased a new stake in Immatics during the 1st quarter valued at $70,000. Graham Capital Management L.P. purchased a new stake in Immatics during the 4th quarter valued at $130,000. Exchange Traded Concepts LLC boosted its position in Immatics by 94.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 25,580 shares of the company's stock valued at $115,000 after buying an additional 12,425 shares during the period. Finally, Pale Fire Capital SE boosted its position in Immatics by 8.9% during the 1st quarter. Pale Fire Capital SE now owns 34,270 shares of the company's stock valued at $155,000 after buying an additional 2,808 shares during the period. Hedge funds and other institutional investors own 64.41% of the company's stock.

Immatics Trading Down 0.3%

Shares of NASDAQ IMTX opened at $5.79 on Wednesday. Immatics N.V. has a 12 month low of $3.30 and a 12 month high of $13.09. The firm has a market capitalization of $703.77 million, a PE ratio of -8.91 and a beta of 1.02. The firm has a fifty day simple moving average of $5.96 and a two-hundred day simple moving average of $5.25.

Immatics (NASDAQ:IMTX - Get Free Report) last issued 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 return on equity of 15.60% and a negative net margin of 59.29%.The company had revenue of $6.48 million during the quarter, compared to the consensus estimate of $13.05 million. On average, sell-side analysts predict that Immatics N.V. will post -0.72 earnings per share for the current year.

Analyst Ratings Changes

IMTX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Immatics in a research report on Wednesday, May 28th. They set a "buy" rating and a $10.00 price target for the company. Zacks Research cut shares of Immatics from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Finally, Wall Street Zen cut shares of Immatics from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. One equities research 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 company's stock. According to MarketBeat.com, the company 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.

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