Immatics (NASDAQ:IMTX) Hits New 1-Year Low – Here’s Why

Immatics (NASDAQ:IMTX) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $3.88 and last traded at $4.24, with a volume of 402269 shares traded. The stock had previously closed at $4.00.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research note on Tuesday. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Immatics currently has a consensus rating of “Buy” and an average price target of $16.67.

Immatics Stock Performance

The firm has a market capitalization of $506.07 million, a PE ratio of -6.42 and a beta of 0.83. The stock’s 50 day simple moving average is $4.91 and its two-hundred day simple moving average is $7.31.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.51. The firm had revenue of $15.67 million for the quarter, compared to the consensus estimate of $16.16 million. Immatics had a negative return on equity of 15.90% and a negative net margin of 47.94%. Equities research analysts expect that Immatics will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Suvretta Capital Management LLC purchased a new position in Immatics during the fourth quarter worth about $36,014,000. T. Rowe Price Investment Management Inc. raised its position in shares of Immatics by 43.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,604,777 shares of the company’s stock valued at $75,400,000 after buying an additional 3,225,141 shares during the period. Vestal Point Capital LP lifted its holdings in Immatics by 67.3% in the fourth quarter. Vestal Point Capital LP now owns 6,275,000 shares of the company’s stock valued at $44,615,000 after acquiring an additional 2,525,000 shares during the last quarter. Braidwell LP grew its position in Immatics by 112.7% in the fourth quarter. Braidwell LP now owns 3,503,965 shares of the company’s stock worth $24,913,000 after acquiring an additional 1,856,400 shares during the period. Finally, Paradigm Biocapital Advisors LP increased its stake in Immatics by 38.7% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company’s stock worth $38,496,000 after acquiring an additional 1,509,547 shares during 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.