Immatics (NASDAQ:IMTX) Stock Price Down 5.7% – Should You Sell?

Shares of Immatics (NASDAQ:IMTX) traded down 5.7% during trading on Tuesday . The company traded as low as $4.27 and last traded at $4.26. 59,871 shares were traded during mid-day trading, a decline of 90% from the average session volume of 620,936 shares. The stock had previously closed at $4.51.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a research report on Tuesday. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Immatics has a consensus rating of “Buy” and a consensus price target of $16.67.

Immatics Stock Performance

The company has a market cap of $497.71 million, a P/E ratio of -6.32 and a beta of 0.83. The stock has a 50-day moving average of $4.89 and a two-hundred day moving average of $7.29.

Immatics (NASDAQ:IMTX) last issued its earnings results on Thursday, March 27th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.51. Immatics had a negative net margin of 47.94% and a negative return on equity of 15.90%. The company had revenue of $15.67 million for the quarter, compared to analysts’ expectations of $16.16 million. As a group, sell-side analysts forecast that Immatics will post -0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Immatics

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in Immatics by 166.0% in the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after purchasing an additional 2,231 shares during the last quarter. Virtus ETF Advisers LLC increased its stake in shares of Immatics by 34.8% in the fourth quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock worth $68,000 after buying an additional 2,479 shares during the period. Guggenheim Capital LLC bought a new stake in Immatics during the 4th quarter valued at $101,000. Forefront Analytics LLC boosted its position in Immatics by 42.3% during the 4th quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock valued at $113,000 after buying an additional 4,731 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc bought a new stake in Immatics in the 3rd quarter worth $114,000. 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.