Zimmer Partners LP Sells 259,010 Shares of 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 lowered its position in Immatics N.V. (NASDAQ:IMTX - Free Report) by 64.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 145,990 shares of the company's stock after selling 259,010 shares during the quarter. Zimmer Partners LP owned about 0.12% of Immatics worth $658,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Suvretta Capital Management LLC acquired a new stake in shares of Immatics during the fourth quarter worth about $36,014,000. Northern Trust Corp grew its position in shares of Immatics by 31.5% during the fourth quarter. Northern Trust Corp now owns 47,226 shares of the company's stock worth $336,000 after acquiring an additional 11,304 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Immatics by 379.2% during the fourth quarter. Millennium Management LLC now owns 156,686 shares of the company's stock worth $1,114,000 after purchasing an additional 123,986 shares during the period. Trexquant Investment LP acquired a new stake in shares of Immatics during the first quarter worth $783,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Immatics by 94.5% during the first quarter. Exchange Traded Concepts LLC now owns 25,580 shares of the company's stock worth $115,000 after purchasing an additional 12,425 shares during the period. Hedge funds and other institutional investors own 64.41% of the company's stock.

Analyst Ratings Changes

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

Immatics Trading Down 2.0%

Shares of IMTX traded down $0.12 during trading hours on Monday, hitting $5.71. 506,121 shares of the stock traded hands, compared to its average volume of 775,676. Immatics N.V. has a 1-year low of $3.30 and a 1-year high of $13.09. The firm has a market capitalization of $693.44 million, a PE ratio of -8.78 and a beta of 1.02. The business has a fifty day moving average of $5.98 and a 200-day moving average of $5.28.

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

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.