Immatics (NASDAQ:IMTX) Stock Price Down 5.6% – Here’s What Happened

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

Analyst Upgrades and Downgrades

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

Immatics Stock Performance

The firm’s fifty day moving average is $4.54 and its two-hundred day moving average is $6.70. The company has a market cap of $499.57 million, a P/E ratio of -6.23 and a beta of 0.85.

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

Hedge Funds Weigh In On Immatics

Several institutional investors have recently bought and sold shares of IMTX. abrdn plc boosted its holdings in shares of Immatics by 49.2% during the 4th quarter. abrdn plc now owns 347,379 shares of the company’s stock valued at $2,470,000 after purchasing an additional 114,479 shares during the last quarter. State Street Corp increased its stake in Immatics by 11.2% in the 3rd quarter. State Street Corp now owns 225,202 shares of the company’s stock worth $2,570,000 after acquiring an additional 22,710 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Immatics during the 4th quarter worth approximately $211,000. Schroder Investment Management Group lifted its position in Immatics by 52.6% during the fourth quarter. Schroder Investment Management Group now owns 427,994 shares of the company’s stock valued at $2,953,000 after purchasing an additional 147,547 shares during the last quarter. Finally, Platinum Investment Management Ltd. grew its position in Immatics by 53.1% in the fourth quarter. Platinum Investment Management Ltd. now owns 311,722 shares of the company’s stock worth $2,216,000 after acquiring an additional 108,108 shares in the last quarter. 64.41% of the stock is owned by hedge funds and other institutional investors.

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.