Immatics (NASDAQ:IMTX) Stock Price Down 4.2% – Time to Sell?

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research note on Thursday, September 5th. The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a report on Monday, November 25th. Bank of America cut their price target on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Finally, Piper Sandler initiated coverage on Immatics in a report on Monday, October 7th. They set 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $16.67.

Immatics Trading Down 3.9 %

The company has a fifty day simple moving average of $8.83 and a 200-day simple moving average of $10.86.

Hedge Funds Weigh In On Immatics

Large investors have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of Immatics in the second quarter valued at about $99,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Immatics in the third quarter valued at about $114,000. Forefront Analytics LLC purchased a new position in shares of Immatics in the second quarter valued at about $139,000. AlphaCentric Advisors LLC lifted its position in shares of Immatics by 14.3% in the second quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock valued at $232,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Immatics in the second quarter worth about $242,000. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

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.