Immatics (NASDAQ:IMTX) Sets New 12-Month Low – Should You Sell?

Immatics (NASDAQ:IMTX) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $5.27 and last traded at $5.31, with a volume of 113573 shares changing hands. The stock had previously closed at $5.34.

Analyst Ratings Changes

A number of analysts have weighed in on the company. The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a research note on Monday, November 25th. Bank of America lowered their price objective on shares of Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Finally, Piper Sandler started coverage on shares of Immatics in a research report on Monday, October 7th. They set an “overweight” rating and a $19.00 target price on the stock. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $16.67.

Immatics Trading Down 0.2 %

The business’s 50-day simple moving average is $6.95 and its 200 day simple moving average is $9.50. The firm has a market cap of $636.19 million, a PE ratio of -8.08 and a beta of 0.77.

Institutional Trading of Immatics

Hedge funds have recently bought and sold shares of the stock. abrdn plc raised its position in shares of Immatics by 49.2% in the 4th quarter. abrdn plc now owns 347,379 shares of the company’s stock worth $2,470,000 after acquiring an additional 114,479 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its position in shares of Immatics by 17.5% during the third quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company’s stock valued at $15,457,000 after buying an additional 202,255 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Immatics by 1.5% in the 3rd quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock valued at $110,462,000 after buying an additional 144,549 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Immatics during the 3rd quarter worth approximately $114,000. Finally, State Street Corp raised its stake in shares of Immatics by 11.2% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors 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.