Immatics (NASDAQ:IMTX) Reaches New 52-Week Low – Time to Sell?

Immatics (NASDAQ:IMTX) shares hit a new 52-week low on Wednesday . The company traded as low as $5.27 and last traded at $5.29, with a volume of 164475 shares changing hands. The stock had previously closed at $5.40.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America cut their price target on shares of Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Piper Sandler assumed coverage on shares of Immatics in a report on Monday, October 7th. They issued an “overweight” rating and a $19.00 price objective on the stock. Finally, The Goldman Sachs Group upgraded shares of Immatics to a “strong-buy” rating in a report on Monday, November 25th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Immatics presently has a consensus rating of “Buy” and a consensus price target of $16.67.

Immatics Stock Up 0.7 %

The company’s 50 day moving average is $7.22 and its 200 day moving average is $9.73. The firm has a market capitalization of $649.32 million, a price-to-earnings ratio of -8.21 and a beta of 0.77.

Institutional Investors Weigh In On Immatics

Several institutional investors and hedge funds have recently bought and sold shares of IMTX. Frazier Life Sciences Management L.P. lifted its holdings in shares of Immatics by 17.5% in 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 acquiring an additional 202,255 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Immatics by 1.5% in the third quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock worth $110,462,000 after acquiring an additional 144,549 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Immatics in the third quarter worth about $114,000. State Street Corp lifted its holdings in shares of Immatics by 11.2% in the third quarter. State Street Corp now owns 225,202 shares of the company’s stock worth $2,570,000 after acquiring an additional 22,710 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Immatics by 29.4% in the third quarter. Quarry LP now owns 11,000 shares of the company’s stock worth $126,000 after acquiring an additional 2,500 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.