Immatics (NASDAQ:IMTX) Hits New 52-Week Low - Here's What Happened

Key Points

• Immatics hit a new 52-week low, trading as low as $6.09 and down 3.9% in the session, below its prior close of $6.52.
• The company reported a quarterly loss of $0.58 per share, worse than analysts’ expected loss of $0.51; revenue of $7.84 million also fell short of the $12.18 million estimate.
• Analyst views remain mixed: MarketBeat reports a “Moderate Buy” consensus and a $19 average price target, alongside seven Buy ratings and one Sell rating.

Shares of Immatics N.V. (NASDAQ:IMTX - Get Free Report) reached a new 52-week low during mid-day trading on Friday. The stock traded as low as $6.09 and last traded at $6.1760, with a volume of 127,355 shares changing hands. The stock had previously closed at $6.52.

Analyst Upgrades and Downgrades

A number of analysts have commented on IMTX shares. Jefferies Financial Group set a $17.00 price target on shares of Immatics in a research report on Tuesday, August 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Immatics in a report on Friday, September 18th. Mizuho set a $21.00 price objective on Immatics in a research report on Thursday, October 29th. Stifel Nicolaus initiated coverage on Immatics in a research note on Tuesday, October 13th. They issued a "buy" rating and a $15.00 price objective on the stock. Finally, Wall Street Zen downgraded Immatics from a "hold" rating to a "sell" rating in a research note on Saturday, October 31st. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Immatics Trading Down 3.9%

The company has a market cap of $856.36 million, a price-to-earnings ratio of -3.22 and a beta of 1.38. The firm's 50-day moving average price is $7.77 and its 200 day moving average price is $9.43.

Immatics (NASDAQ:IMTX - Get Free Report) last released its earnings results on Tuesday, November 10th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.07). The company had revenue of $7.84 million for the quarter, compared to analyst estimates of $12.18 million. Immatics had a negative net margin of 533.26% and a negative return on equity of 52.27%. Analysts forecast that Immatics N.V. will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Immatics

In related news, Director Perceptive Advisors Llc acquired 863,060 shares of the business's stock in a transaction dated Wednesday, August 26th. The shares were bought at an average price of $8.69 per share, with a total value of $7,499,991.40. Following the transaction, the director directly owned 11,246,516 shares of the company's stock, valued at $97,732,224.04. This trade represents a 8.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.30% of the company's stock.

Institutional Trading of Immatics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aberdeen Group plc raised its stake in Immatics by 89.0% during the 3rd quarter. Aberdeen Group plc now owns 1,235,460 shares of the company's stock worth $10,847,000 after buying an additional 581,856 shares during the period. Troluce Capital Advisors LLC acquired a new stake in Immatics in the first quarter valued at approximately $2,460,000. Wellington Management Group LLP grew its stake in Immatics by 5.5% in the second quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company's stock valued at $16,693,000 after acquiring an additional 85,960 shares during the period. Alps Advisors Inc. increased its holdings in shares of Immatics by 46.2% during the third quarter. Alps Advisors Inc. now owns 198,239 shares of the company's stock valued at $1,741,000 after acquiring an additional 62,640 shares in the last quarter. Finally, SummitTX Capital L.P. increased its holdings in shares of Immatics by 56.1% during the first quarter. SummitTX Capital L.P. now owns 151,112 shares of the company's stock valued at $1,487,000 after acquiring an additional 54,328 shares in the last quarter. 64.41% of the stock is owned by institutional investors.

Immatics Company Profile

Immatics is a clinical-stage biopharmaceutical company focused on developing immunotherapies for cancer. Founded in Germany in 2000, the company uses its target-discovery and development platforms to identify cancer-associated targets and create therapies designed to direct the immune system against tumor cells. Its pipeline includes engineered T-cell receptor (TCR) T-cell therapies, which modify a patient's T cells to recognize specific tumor targets, as well as TCR bispecific therapies designed to connect T cells with cancer cells.

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