Immatics (NASDAQ:IMTX) Hits New 1-Year Low – Time to Sell?

Shares of Immatics (NASDAQ:IMTX) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $5.17 and last traded at $5.21, with a volume of 196987 shares traded. The stock had previously closed at $5.40.

Analyst Ratings Changes

IMTX has been the topic of several research reports. The Goldman Sachs Group upgraded shares of Immatics to a “strong-buy” rating in a report on Monday, November 25th. Bank of America reduced their price objective on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $16.67.

Immatics Trading Up 2.4 %

The business’s fifty day moving average price is $6.45 and its 200-day moving average price is $9.00. The company has a market capitalization of $605.16 million, a P/E ratio of -7.68 and a beta of 0.75.

Institutional Investors Weigh In On Immatics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in Immatics by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 10,417,892 shares of the company’s stock worth $74,071,000 after purchasing an additional 736,709 shares during the period. Vestal Point Capital LP increased its stake in shares of Immatics by 36.4% in the third quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock worth $42,788,000 after buying an additional 1,000,000 shares during the period. Braidwell LP bought a new stake in Immatics during the 3rd quarter valued at $18,799,000. Frazier Life Sciences Management L.P. boosted its position in Immatics by 17.5% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company’s stock valued at $15,457,000 after buying an additional 202,255 shares during the period. Finally, Wasatch Advisors LP grew its holdings in Immatics by 3.5% in the 3rd quarter. Wasatch Advisors LP now owns 872,511 shares of the company’s stock worth $9,955,000 after acquiring an additional 29,239 shares during the last quarter. Institutional investors own 64.41% of the company’s stock.

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.