Immatics (NASDAQ:IMTX) Trading Down 5.7% - Should You Sell?

Immatics (NASDAQ:IMTX - Get Free Report)'s stock price dropped 5.7% during trading on Tuesday . The stock traded as low as $4.27 and last traded at $4.26. Approximately 59,871 shares were traded during trading, a decline of 90% from the average daily volume of 620,936 shares. The stock had previously closed at $4.51.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reissued an "overweight" rating on shares of Immatics in a research report on Tuesday, April 1st. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $16.67.

Immatics Stock Down 8.9 %

The company has a fifty day moving average price of $4.81 and a two-hundred day moving average price of $7.16. The firm has a market capitalization of $417.75 million, a price-to-earnings ratio of -5.30 and a beta of 0.85.

Immatics (NASDAQ:IMTX - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.48 earnings per share 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 firm had revenue of $15.67 million during the quarter, compared to analysts' expectations of $16.16 million. On average, equities analysts anticipate that Immatics will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in Immatics by 9.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 164,766 shares of the company's stock valued at $1,880,000 after buying an additional 13,997 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Immatics in the third quarter valued at about $298,000. Quarry LP boosted its holdings in shares of Immatics by 29.4% in the third quarter. Quarry LP now owns 11,000 shares of the company's stock valued at $126,000 after acquiring an additional 2,500 shares in the last quarter. State Street Corp increased its stake in shares of Immatics by 11.2% during the third quarter. State Street Corp now owns 225,202 shares of the company's stock worth $2,570,000 after acquiring an additional 22,710 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new position in Immatics during the third quarter worth about $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.