Immatics (NASDAQ:IMTX) Stock Price Down 4.8% - Here's What Happened

Key Points

• Immatics N.V. (NASDAQ:IMTX) shares dropped 4.8% to $5.42, with trading volume significantly below the average, indicating decreased investor activity.
• The company reported disappointing earnings last quarter, with an EPS of ($0.66) compared to expectations of ($0.38), along with revenue well below analyst estimates.
• Analysts have mixed ratings for Immatics, with a consensus price target of $14.67, while some have recently downgraded their recommendations to a "strong sell."

Immatics N.V. (NASDAQ:IMTX - Get Free Report)'s share price fell 4.8% during trading on Monday . The company traded as low as $5.50 and last traded at $5.42. 147,386 shares changed hands during trading, a decline of 81% from the average session volume of 755,854 shares. The stock had previously closed at $5.69.

Analysts Set New Price Targets

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

Immatics Stock Performance

The stock has a market capitalization of $653.33 million, a price-to-earnings ratio of -8.27 and a beta of 0.93. The business has a 50-day moving average of $6.00 and a 200-day moving average of $5.20.

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). The firm had revenue of $6.48 million during the quarter, compared to analyst estimates of $13.05 million. Immatics had a negative net margin of 59.29% and a negative return on equity of 15.60%. Equities analysts predict that Immatics N.V. will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immatics

Several institutional investors have recently modified their holdings of IMTX. Guggenheim Capital LLC acquired a new position in shares of Immatics in the fourth quarter worth $101,000. Marshall Wace LLP acquired a new position in shares of Immatics in the fourth quarter worth $409,000. Virtus ETF Advisers LLC grew its position in shares of Immatics by 34.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company's stock worth $68,000 after buying an additional 2,479 shares in the last quarter. 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 buying an additional 11,304 shares in the last quarter. Finally, Algert Global LLC grew its position in shares of Immatics by 173.1% during the fourth quarter. Algert Global LLC now owns 58,596 shares of the company's stock worth $417,000 after buying an additional 37,138 shares in the last quarter. Institutional investors and hedge funds own 64.41% of the company's stock.

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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