Immatics (NASDAQ:IMTX) Downgraded to "Strong Sell" Rating by Wall Street Zen

Immatics (NASDAQ:IMTX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "strong sell" rating in a note issued to investors on Thursday.

Separately, Cantor Fitzgerald reiterated an "overweight" rating on shares of Immatics in a report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Immatics currently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

Immatics Trading Up 0.4%

Immatics stock traded up $0.02 during mid-day trading on Thursday, hitting $5.13. The company had a trading volume of 143,693 shares, compared to its average volume of 843,955. Immatics has a 12 month low of $3.30 and a 12 month high of $13.77. The company has a market capitalization of $623.55 million, a PE ratio of -7.78 and a beta of 0.87. The stock's 50 day moving average price is $4.52 and its two-hundred day moving average price is $5.65.

Immatics (NASDAQ:IMTX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.04. Immatics had a negative return on equity of 15.90% and a negative net margin of 47.94%. The firm had revenue of $20.12 million during the quarter, compared to analyst estimates of $14.92 million. Equities research analysts anticipate that Immatics will post -0.72 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. increased its holdings in Immatics by 38.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 14,677,003 shares of the company's stock worth $66,194,000 after buying an additional 4,072,226 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Immatics by 7.6% in 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 raised its holdings in shares of Immatics by 12.9% during the fourth quarter. Baker BROS. Advisors LP now owns 7,275,830 shares of the company's stock valued at $51,731,000 after purchasing an additional 832,432 shares during the last quarter. Vestal Point Capital LP raised its holdings in shares of Immatics by 14.6% during the first quarter. Vestal Point Capital LP now owns 7,192,700 shares of the company's stock valued at $32,439,000 after purchasing an additional 917,700 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP lifted its position in Immatics by 38.7% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company's stock valued at $38,496,000 after purchasing an additional 1,509,547 shares during the period. 64.41% of the stock is owned by institutional investors.

About Immatics

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.