Immatics (NASDAQ:IMTX) Shares Down 4.4%

Shares of Immatics (NASDAQ:IMTX) dropped 4.4% during mid-day trading on Wednesday . The stock 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 Analysts Forecast Growth

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

Immatics Stock Down 6.2 %

The company has a market capitalization of $890.60 million, a price-to-earnings ratio of -10.25 and a beta of 0.75. The stock has a fifty day moving average price of $11.68 and a two-hundred day moving average price of $11.54.

Immatics (NASDAQ:IMTX) last released its earnings results on Tuesday, August 13th. The company reported ($0.18) earnings per share for the quarter, topping 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 firm had revenue of $20.19 million for the quarter, compared to the consensus estimate of $12.36 million. As a group, research analysts forecast that Immatics will post -0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immatics

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

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.