Immatics (NASDAQ:IMTX) Shares Down 8% – Should You Sell?

Immatics N.V. (NASDAQ:IMTX)’s share price was down 8% during trading on Thursday . The company traded as low as $8.56 and last traded at $8.5090. 169,925 shares were traded during trading, a decline of 63% from the average session volume of 456,490 shares. The stock had previously closed at $9.25.

Wall Street Analysts Forecast Growth

IMTX has been the subject of several recent analyst reports. Weiss Ratings downgraded Immatics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. TD Cowen initiated coverage on Immatics in a research report on Tuesday, April 28th. They issued a “buy” rating on the stock. Chardan Capital reissued a “buy” rating and set a $25.00 target price on shares of Immatics in a research note on Tuesday, May 19th. Finally, Wall Street Zen cut shares of Immatics from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.80.

Immatics Trading Up 4.4%

The company has a market capitalization of $1.20 billion, a P/E ratio of -4.80 and a beta of 1.33. The stock has a 50 day moving average price of $9.47 and a 200 day moving average price of $10.04.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings data on Tuesday, August 18th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). Immatics had a negative return on equity of 47.41% and a negative net margin of 495.71%.The firm had revenue of $10.44 million for the quarter, compared to the consensus estimate of $12.42 million. On average, research analysts predict that Immatics N.V. will post -1.84 EPS for the current year.

Hedge Funds Weigh In On Immatics

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in Immatics by 166.0% during the 4th 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 period. Quarry LP bought a new position in shares of Immatics during the 4th quarter worth about $84,000. Fox Run Management L.L.C. bought a new position in shares of Immatics in the 4th quarter worth $129,000. Graham Capital Management L.P. bought a new position in shares of Immatics in the fourth quarter valued at $206,000. Finally, Engineers Gate Manager LP bought a new position in Immatics in the 2nd quarter valued at about $124,000. Institutional investors and hedge funds own 64.41% of the company’s stock.

About Immatics

Immatics N.V. (NASDAQ: IMTX) is a clinical-stage biotechnology company dedicated to the development of T cell receptor (TCR)-based immunotherapies for solid tumors. The company leverages its proprietary discovery and engineering platforms to identify tumor-specific peptide targets and develop therapies that harness the power of a patient’s immune system. Immatics’ approach aims to generate durable responses by guiding T cells to recognize and kill cancer cells with high precision.

At the core of Immatics’ technology suite is the XPRESIDENT® platform, which mines the cancer peptidome to uncover novel tumor antigens naturally presented on the surface of cancer cells.