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)'s share price dropped 5.7% on Monday . The company traded as low as $5.92 and last traded at $5.91. Approximately 80,567 shares were traded during trading, a decline of 90% from the average daily volume of 782,580 shares. The stock had previously closed at $6.26.

Analyst Ratings Changes

IMTX has been the topic of a number of recent research reports. Wall Street Zen lowered Immatics from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Immatics in a research note on Wednesday, May 28th. They set a "buy" rating and a $10.00 target price for the company. Finally, Zacks Research downgraded shares of Immatics from a "hold" rating to a "strong sell" rating in a research note 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 given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $14.67.

Immatics Price Performance

The company has a market cap of $707.42 million, a price-to-earnings ratio of -8.95 and a beta of 1.02. The firm's 50 day simple moving average is $5.98 and its 200-day simple moving average is $5.27.

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

Hedge Funds Weigh In On Immatics

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its stake in Immatics by 166.0% in the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company's stock valued at $25,000 after acquiring an additional 2,231 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Immatics during the second quarter worth about $59,000. Intellectus Partners LLC acquired a new position in Immatics in the 1st quarter valued at about $70,000. Exchange Traded Concepts LLC raised its stake 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 acquiring an additional 12,425 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Immatics during the 2nd quarter valued at approximately $124,000. Institutional investors and hedge funds 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.