Immatics (NASDAQ:IMTX) Trading Down 5.7% - Time to Sell?

Key Points

• Immatics N.V. (NASDAQ:IMTX) shares fell by 5.7% during trading, reaching a low of $5.92, with trading volume declining 90% from average levels.
• Analysts have set a consensus price target of $14.67 for Immatics, with ratings ranging from a Strong Buy to Strong Sell.
• The company reported a loss of ($0.66) EPS for the last quarter, missing expectations and continuing to struggle with low revenue and negative margins.

Immatics N.V. (NASDAQ:IMTX - Get Free Report) was down 5.7% during trading on Monday . The stock traded as low as $5.92 and last traded at $5.91. Approximately 80,567 shares traded hands during trading, a decline of 90% from the average daily volume of 782,580 shares. The stock had previously closed at $6.26.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IMTX shares. Deutsche Bank Aktiengesellschaft started coverage on Immatics in a research note on Wednesday, May 28th. They issued a "buy" rating and a $10.00 target price on the stock. Wall Street Zen downgraded shares of Immatics from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Finally, Zacks Research lowered 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $14.67.

Immatics Stock Performance

The business's 50-day moving average price is $5.95 and its 200 day moving average price is $5.23. The company has a market cap of $711.68 million, a P/E ratio of -8.88 and a beta of 1.02.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its earnings results 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 for the quarter, compared to analyst estimates of $13.05 million. Equities research analysts forecast that Immatics N.V. will post -0.72 earnings per share for the current year.

Hedge Funds Weigh In On Immatics

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in Immatics by 166.0% in the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company's stock worth $25,000 after acquiring an additional 2,231 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in Immatics during the 2nd quarter worth approximately $59,000. Intellectus Partners LLC acquired a new position in Immatics during the first quarter worth about $70,000. Graham Capital Management L.P. purchased a new position in shares of Immatics during the 4th quarter worth $130,000. Finally, Engineers Gate Manager LP purchased a new position in Immatics in the second quarter worth approximately $124,000. Hedge funds and other institutional investors own 64.41% of the company's stock.

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.

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