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

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

Wall Street Analysts Forecast Growth

IMTX has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised shares of Immatics to a “strong-buy” rating in a report on Monday, November 25th. Piper Sandler began coverage on Immatics in a report on Monday, October 7th. They issued an “overweight” rating and a $19.00 price objective on the stock. Finally, Bank of America cut their target price on shares of Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Immatics currently has an average rating of “Buy” and a consensus target price of $16.67.

Immatics Stock Down 0.2 %

The firm has a market capitalization of $636.19 million, a PE ratio of -8.08 and a beta of 0.77. The business has a 50-day moving average price of $6.95 and a 200-day moving average price of $9.50.

Institutional Trading of Immatics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new position in Immatics in the second quarter worth approximately $99,000. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Immatics in the 3rd quarter valued at $114,000. Algert Global LLC purchased a new position in shares of Immatics during the 2nd quarter worth $242,000. AlphaCentric Advisors LLC raised its holdings in Immatics by 25.0% in the 3rd quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock valued at $285,000 after buying an additional 5,000 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Immatics in the third quarter valued at about $298,000. Institutional investors and hedge funds 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.