Immatics (NASDAQ:IMTX) Hits New 52-Week Low – What’s Next?

Immatics (NASDAQ:IMTX) hit a new 52-week low during trading on Wednesday . The company traded as low as $3.88 and last traded at $4.24, with a volume of 402269 shares trading hands. The stock had previously closed at $4.00.

Wall Street Analysts Forecast Growth

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

Immatics Stock Performance

The stock has a market cap of $417.75 million, a price-to-earnings ratio of -5.30 and a beta of 0.85. The business has a fifty day simple moving average of $4.85 and a 200 day simple moving average of $7.26.

Immatics (NASDAQ:IMTX) last posted its quarterly earnings data 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 return on equity of 15.90% and a negative net margin of 47.94%. The firm had revenue of $15.67 million during the quarter, compared to analysts’ expectations of $16.16 million. On average, equities research analysts anticipate that Immatics will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Immatics

A number of institutional investors have recently modified their holdings of IMTX. Suvretta Capital Management LLC acquired a new stake in Immatics during the fourth quarter worth approximately $36,014,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Immatics by 43.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,604,777 shares of the company’s stock worth $75,400,000 after purchasing an additional 3,225,141 shares during the last quarter. Vestal Point Capital LP boosted its holdings in shares of Immatics by 67.3% during the fourth quarter. Vestal Point Capital LP now owns 6,275,000 shares of the company’s stock worth $44,615,000 after purchasing an additional 2,525,000 shares during the last quarter. Braidwell LP grew its position in shares of Immatics by 112.7% in the fourth quarter. Braidwell LP now owns 3,503,965 shares of the company’s stock valued at $24,913,000 after purchasing an additional 1,856,400 shares during the period. Finally, Paradigm Biocapital Advisors LP increased its stake in Immatics by 38.7% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company’s stock valued at $38,496,000 after purchasing an additional 1,509,547 shares during the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

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.