Immatics (NASDAQ:IMTX) Shares Down 4.4%

Immatics (NASDAQ:IMTX)’s stock price dropped 4.4% during mid-day trading on Wednesday . The company traded as low as $10.70 and last traded at $10.72. Approximately 141,252 shares were traded during trading, a decline of 69% from the average daily volume of 451,422 shares. The stock had previously closed at $11.21.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a research note on Thursday, September 5th.

Immatics Trading Down 6.2 %

The business has a 50 day moving average of $11.68 and a 200-day moving average of $11.54. The stock has a market cap of $890.60 million, a PE ratio of -10.25 and a beta of 0.75.

Immatics (NASDAQ:IMTX) last announced its earnings results on Tuesday, August 13th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.17. Immatics had a negative return on equity of 23.34% and a negative net margin of 103.99%. The company had revenue of $20.19 million for the quarter, compared to the consensus estimate of $12.36 million. Research analysts expect that Immatics will post -0.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Perceptive Advisors LLC boosted its stake in shares of Immatics by 76.5% in the second quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock valued at $93,961,000 after buying an additional 3,503,750 shares in the last quarter. Baker BROS. Advisors LP boosted its stake in shares of Immatics by 10.4% in the first quarter. Baker BROS. Advisors LP now owns 6,443,398 shares of the company’s stock valued at $67,720,000 after buying an additional 604,545 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Immatics by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 6,352,929 shares of the company’s stock valued at $66,896,000 after buying an additional 747,772 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Immatics by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,225,360 shares of the company’s stock valued at $33,899,000 after buying an additional 891,191 shares in the last quarter. Finally, Vestal Point Capital LP purchased a new stake in shares of Immatics in the fourth quarter valued at approximately $22,113,000. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

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.