Immatics (NASDAQ:IMTX) Shares Gap Down – Here’s Why

Immatics N.V. (NASDAQ:IMTX) gapped down prior to trading on Tuesday . The stock had previously closed at $10.00, but opened at $9.53. Immatics shares last traded at $10.1550, with a volume of 215,345 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Mizuho set a $25.00 price objective on shares of Immatics in a research note on Thursday, February 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a report on Thursday, January 22nd. Guggenheim raised their price target on Immatics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Wall Street Zen upgraded Immatics from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Leerink Partners reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Immatics in a research note on Thursday, December 4th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Immatics presently has a consensus rating of “Moderate Buy” and an average target price of $19.20.

Immatics Stock Performance

The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -5.45 and a beta of 1.34. The company has a fifty day simple moving average of $9.88 and a two-hundred day simple moving average of $9.29.

Immatics (NASDAQ:IMTX) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.14. The business had revenue of $23.00 million for the quarter, compared to analysts’ expectations of $12.18 million. Immatics had a negative return on equity of 41.81% and a negative net margin of 411.90%. As a group, analysts expect that Immatics N.V. will post -0.72 EPS for the current year.

Institutional Trading of Immatics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in shares of Immatics by 166.0% during the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after acquiring an additional 2,231 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Immatics in the second quarter worth approximately $136,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Immatics by 28.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,894 shares of the company’s stock valued at $172,000 after purchasing an additional 7,116 shares during the period. JPMorgan Chase & Co. increased its position in Immatics by 31.5% during the second quarter. JPMorgan Chase & Co. now owns 198,769 shares of the company’s stock worth $1,069,000 after purchasing an additional 47,590 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Immatics by 105.2% during the second quarter. BNP Paribas Financial Markets now owns 78,123 shares of the company’s stock worth $420,000 after purchasing an additional 40,058 shares during the period. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Immatics Company Profile

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.