Immatics (NASDAQ:IMTX) Hits New 1-Year Low – Time to Sell?

Immatics N.V. (NASDAQ:IMTX) hit a new 52-week low during mid-day trading on Friday. The company 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.

Wall Street Analyst Weigh In

A number of analysts have commented on IMTX shares. Wall Street Zen lowered Immatics from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Mizuho set a $21.00 target price on Immatics in a report on Thursday, October 29th. Jefferies Financial Group set a $17.00 target price on Immatics in a report on Tuesday, August 25th. Stifel Nicolaus began coverage on Immatics in a research report on Tuesday, October 13th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a report on Friday, September 18th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Immatics Stock Performance

The stock has a market cap of $856.36 million, a P/E ratio of -3.22 and a beta of 1.38. The business has a 50 day simple moving average of $7.77 and a 200-day simple moving average of $9.43.

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

Insider Transactions at Immatics

In related news, Director Perceptive Advisors Llc acquired 863,060 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average price of $8.69 per share, for a total transaction of $7,499,991.40. Following the completion of the acquisition, the director owned 11,246,516 shares of the company’s stock, valued at approximately $97,732,224.04. This represents a 8.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

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

About Immatics

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.