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

Immatics (NASDAQ:IMTX)’s share price hit a new 52-week low on Tuesday . The company traded as low as $4.06 and last traded at $4.21, with a volume of 149089 shares traded. The stock had previously closed at $4.18.

Wall Street Analyst Weigh In

IMTX has been the topic of a number of analyst reports. Bank of America dropped their target price on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a report on Monday, November 25th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Immatics currently has a consensus rating of “Buy” and a consensus price target of $16.67.

Immatics Price Performance

The business’s 50 day moving average price is $5.70 and its 200 day moving average price is $8.32. The firm has a market cap of $518.01 million, a PE ratio of -6.58 and a beta of 0.75.

Institutional Investors Weigh In On Immatics

Several large investors have recently bought and sold shares of the company. abrdn plc boosted its stake in shares of Immatics by 49.2% in the fourth quarter. abrdn plc now owns 347,379 shares of the company’s stock worth $2,470,000 after acquiring an additional 114,479 shares during the last quarter. Vestal Point Capital LP boosted its stake in Immatics by 36.4% during the 3rd quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock worth $42,788,000 after purchasing an additional 1,000,000 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Immatics by 1.5% during the third quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock worth $110,462,000 after buying an additional 144,549 shares in the last quarter. Frazier Life Sciences Management L.P. grew its holdings in shares of Immatics by 17.5% during the third quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company’s stock worth $15,457,000 after buying an additional 202,255 shares in the last quarter. Finally, State Street Corp raised its position in shares of Immatics by 11.2% in the third quarter. State Street Corp now owns 225,202 shares of the company’s stock valued at $2,570,000 after buying an additional 22,710 shares during the last quarter. 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.