Immatics (NASDAQ:IMTX) Stock Price Down 4.2% – What’s Next?

Immatics (NASDAQ:IMTX)’s share price was down 4.2% during mid-day trading on Friday . The company traded as low as $7.10 and last traded at $7.10. Approximately 23,892 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 497,639 shares. The stock had previously closed at $7.41.

Wall Street Analyst Weigh In

IMTX has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th. The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a report on Monday, November 25th. Bank of America dropped their target price on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Finally, Piper Sandler started coverage on Immatics in a research note on Monday, October 7th. They issued an “overweight” rating and a $19.00 price target for the company. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $16.67.

Immatics Price Performance

The stock’s fifty day simple moving average is $8.75 and its 200-day simple moving average is $10.82. The firm has a market cap of $860.56 million, a PE ratio of -10.92 and a beta of 0.74.

Hedge Funds Weigh In On Immatics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in Immatics by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock valued at $110,462,000 after purchasing an additional 144,549 shares during the last quarter. Perceptive Advisors LLC boosted its position in Immatics by 76.5% in the second quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock valued at $93,961,000 after buying an additional 3,503,750 shares during the last quarter. Vestal Point Capital LP increased its holdings in Immatics by 36.4% in the 3rd quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock worth $42,788,000 after buying an additional 1,000,000 shares during the period. Braidwell LP purchased a new position in Immatics during the 3rd quarter worth approximately $18,799,000. Finally, Frazier Life Sciences Management L.P. lifted its stake in Immatics by 17.5% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company’s stock valued at $15,457,000 after acquiring an additional 202,255 shares during the period. Hedge funds and other institutional investors own 64.41% of the company’s stock.

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.