Immatics (NASDAQ:IMTX) Sets New 52-Week Low – Should You Sell?

Shares of Immatics (NASDAQ:IMTX) reached a new 52-week low on Monday . The company traded as low as $4.46 and last traded at $4.50, with a volume of 134431 shares traded. The stock had previously closed at $4.60.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IMTX shares. The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Bank of America reduced their price target on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Immatics has an average rating of “Buy” and an average price target of $16.67.

Immatics Price Performance

The firm has a market cap of $507.26 million, a P/E ratio of -6.44 and a beta of 0.75. The firm’s 50 day moving average is $5.91 and its 200 day moving average is $8.52.

Institutional Trading of Immatics

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in Immatics by 166.0% during the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after buying an additional 2,231 shares in the last quarter. Virtus ETF Advisers LLC grew its stake in shares of Immatics by 34.8% in the fourth quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock worth $68,000 after acquiring an additional 2,479 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Immatics during the third quarter valued at $114,000. Quarry LP raised its position in shares of Immatics by 29.4% in the 3rd quarter. Quarry LP now owns 11,000 shares of the company’s stock worth $126,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Guggenheim Capital LLC purchased a new position in shares of Immatics in the 4th quarter worth about $101,000. 64.41% of the stock is owned by 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.