Immatics (NASDAQ:IMTX) Trading Down 5.3% – Here’s What Happened

Immatics (NASDAQ:IMTX) shares were down 5.3% during trading on Friday . The company traded as low as $5.01 and last traded at $5.02. Approximately 45,003 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 594,125 shares. The stock had previously closed at $5.30.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded shares of Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $16.67.

Immatics Trading Down 5.3 %

The stock has a market capitalization of $599.17 million, a price-to-earnings ratio of -7.66 and a beta of 0.83. The stock’s 50 day moving average is $5.09 and its two-hundred day moving average is $7.77.

Hedge Funds Weigh In On Immatics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMTX. Bank of America Corp DE boosted its stake in Immatics by 166.0% in the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after purchasing an additional 2,231 shares during the period. Virtus ETF Advisers LLC boosted its stake in shares of Immatics by 34.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock worth $68,000 after buying an additional 2,479 shares during the last quarter. Guggenheim Capital LLC acquired a new position in shares of Immatics during the 4th quarter worth about $101,000. Forefront Analytics LLC boosted its stake in shares of Immatics by 42.3% during the 4th quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock worth $113,000 after buying an additional 4,731 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Immatics during the 3rd quarter worth about $114,000. 64.41% of the stock is owned by institutional investors and hedge funds.

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.