Immatics (NASDAQ:IMTX) Sets New 1-Year Low – Should You Sell?

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

Wall Street Analysts Forecast Growth

IMTX has been the subject of a number of research analyst reports. The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a research note on Monday, November 25th. Bank of America dropped their price objective on shares of Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a report 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 stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $16.67.

Immatics Price Performance

The business’s 50-day moving average is $6.01 and its two-hundred day moving average is $8.62. The firm has a market cap of $548.46 million, a P/E ratio of -6.96 and a beta of 0.75.

Institutional Trading of Immatics

Several institutional investors and hedge funds have recently bought and sold shares of IMTX. T. Rowe Price Investment Management Inc. increased its position in shares of Immatics by 43.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,604,777 shares of the company’s stock worth $75,400,000 after purchasing an additional 3,225,141 shares during the last quarter. Wellington Management Group LLP lifted its stake in Immatics by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 10,417,892 shares of the company’s stock valued at $74,071,000 after acquiring an additional 736,709 shares during the last quarter. Baker BROS. Advisors LP grew its position in shares of Immatics by 12.9% in the 4th quarter. Baker BROS. Advisors LP now owns 7,275,830 shares of the company’s stock valued at $51,731,000 after acquiring an additional 832,432 shares during the period. Vestal Point Capital LP increased its stake in shares of Immatics by 67.3% during the 4th quarter. Vestal Point Capital LP now owns 6,275,000 shares of the company’s stock worth $44,615,000 after purchasing an additional 2,525,000 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP raised its holdings in shares of Immatics by 38.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company’s stock valued at $38,496,000 after purchasing an additional 1,509,547 shares during the period. Institutional investors own 64.41% of the company’s stock.

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.