Immatics (NASDAQ:IMTX) Sets New 12-Month Low – Time to Sell?

Immatics (NASDAQ:IMTX)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $7.46 and last traded at $7.46, with a volume of 5999 shares trading hands. The stock had previously closed at $7.55.

Analyst Ratings Changes

A number of analysts have weighed in on IMTX shares. The Goldman Sachs Group raised shares of Immatics to a “strong-buy” rating in a report on Monday, November 25th. Bank of America decreased their price objective on shares of Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Piper Sandler started coverage on Immatics in a research note on Monday, October 7th. They issued an “overweight” rating and a $19.00 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a report on Thursday, September 5th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $16.67.

Immatics Stock Performance

The company has a market capitalization of $884.43 million, a price-to-earnings ratio of -11.23 and a beta of 0.74. The company’s fifty day simple moving average is $8.83 and its two-hundred day simple moving average is $10.86.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. AlphaCentric Advisors LLC boosted its position in shares of Immatics by 14.3% during the second quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock worth $232,000 after buying an additional 2,500 shares during the period. TD Asset Management Inc grew its holdings in Immatics by 11.8% during the second quarter. TD Asset Management Inc now owns 357,526 shares of the company’s stock worth $4,154,000 after acquiring an additional 37,770 shares during the period. XTX Topco Ltd bought a new stake in Immatics in the second quarter worth about $321,000. HighVista Strategies LLC acquired a new stake in shares of Immatics during the second quarter worth $904,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Immatics in the 2nd quarter valued at approximately $2,404,000. 64.41% of the stock is currently owned by 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.