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

Shares of Immatics (NASDAQ:IMTX) gapped down prior to trading on Thursday . The stock had previously closed at $11.07, but opened at $10.33. Immatics shares last traded at $9.93, with a volume of 406,903 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IMTX. Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th. Piper Sandler began coverage on shares of Immatics in a report on Monday, October 7th. They set an “overweight” rating and a $19.00 price objective for the company.

Immatics Stock Performance

The firm has a market capitalization of $790.72 million, a PE ratio of -10.49 and a beta of 0.75. The company has a fifty day moving average price of $11.41 and a 200-day moving average price of $11.48.

Immatics (NASDAQ:IMTX) last announced its quarterly 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 net margin of 103.99% and a negative return on equity of 23.34%. The company had revenue of $20.19 million for the quarter, compared to analysts’ expectations of $12.36 million. On average, equities analysts predict that Immatics will post -0.94 earnings per share for the current year.

Institutional Trading of Immatics

A number of institutional investors have recently bought and sold shares of the stock. Perceptive Advisors LLC lifted its stake in shares of Immatics by 76.5% during the 2nd 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. RA Capital Management L.P. bought a new position in Immatics in the first quarter worth approximately $18,392,000. Goldman Sachs Group Inc. increased its holdings in Immatics by 324.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,548,909 shares of the company’s stock worth $16,310,000 after purchasing an additional 1,183,860 shares during the period. Frazier Life Sciences Management L.P. purchased a new stake in shares of Immatics in the 2nd quarter worth $13,392,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Immatics by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,225,360 shares of the company’s stock worth $33,899,000 after buying an additional 891,191 shares in the last quarter. 64.41% of the stock is currently owned by institutional investors.

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.