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

Shares of Immatics (NASDAQ:IMTX) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $5.27 and last traded at $5.29, with a volume of 164475 shares traded. The stock had previously closed at $5.40.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IMTX. Bank of America reduced their target price 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. Piper Sandler began coverage on Immatics in a research report on Monday, October 7th. They issued an “overweight” rating and a $19.00 target price for the company. Finally, 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 issued a strong buy rating to the company. According to MarketBeat.com, Immatics presently has an average rating of “Buy” and an average price target of $16.67.

Immatics Stock Performance

The company’s 50-day moving average price is $7.10 and its 200 day moving average price is $9.67. The stock has a market capitalization of $668.42 million, a P/E ratio of -8.48 and a beta of 0.77.

Institutional Investors Weigh In On Immatics

Several hedge funds and other institutional investors have recently modified their holdings of IMTX. Quarry LP bought a new stake in Immatics during the second quarter valued at about $99,000. Texas Capital Bank Wealth Management Services Inc acquired a new position in Immatics during the third quarter valued at $114,000. Forefront Analytics LLC purchased a new stake in shares of Immatics in the second quarter worth about $139,000. Algert Global LLC purchased a new stake in Immatics in the 2nd quarter worth approximately $242,000. Finally, AlphaCentric Advisors LLC grew its position in shares of Immatics by 25.0% during the 3rd quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock valued at $285,000 after acquiring an additional 5,000 shares during the period. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

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.