Immatics (NASDAQ:IMTX) Shares Down 5.6% – Time to Sell?

Immatics (NASDAQ:IMTX)’s share price fell 5.6% during mid-day trading on Wednesday . The stock traded as low as $4.10 and last traded at $4.13. 83,372 shares were traded during mid-day trading, a decline of 87% from the average session volume of 649,197 shares. The stock had previously closed at $4.37.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research report on Tuesday, April 1st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $16.67.

Immatics Price Performance

The stock has a market capitalization of $517.80 million, a P/E ratio of -6.45 and a beta of 0.85. The business’s 50 day moving average price is $4.49 and its 200 day moving average price is $6.63.

Immatics (NASDAQ:IMTX) last announced its earnings results on Thursday, March 27th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.51. The business had revenue of $15.67 million during the quarter, compared to analyst estimates of $16.16 million. Immatics had a negative net margin of 47.94% and a negative return on equity of 15.90%. As a group, analysts forecast that Immatics will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immatics

Several hedge funds and other institutional investors have recently made changes to their positions in IMTX. Bank of America Corp DE boosted its holdings in shares of Immatics by 166.0% in the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after buying an additional 2,231 shares during the last quarter. Virtus ETF Advisers LLC boosted its stake in shares of Immatics by 34.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock worth $68,000 after acquiring an additional 2,479 shares during the last quarter. Guggenheim Capital LLC bought a new stake in shares of Immatics during the 4th quarter valued at $101,000. Intellectus Partners LLC purchased a new stake in shares of Immatics in the 1st quarter worth $70,000. Finally, Forefront Analytics LLC raised its holdings in Immatics by 42.3% in the 4th quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock worth $113,000 after purchasing an additional 4,731 shares during the period. 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.