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

Immatics (NASDAQ:IMTX) shares reached a new 52-week low on Thursday . The stock traded as low as $7.80 and last traded at $7.80, with a volume of 7445 shares traded. The stock had previously closed at $8.57.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on IMTX shares. Piper Sandler assumed coverage on shares of Immatics in a research report on Monday, October 7th. They set an “overweight” rating and a $19.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a research note on Thursday, September 5th.

Immatics Stock Performance

The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -9.63 and a beta of 0.78. The firm’s 50-day simple moving average is $10.48 and its two-hundred day simple moving average is $11.28.

Immatics (NASDAQ:IMTX) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.17. Immatics had a negative net margin of 103.99% and a negative return on equity of 23.34%. The firm had revenue of $20.19 million during the quarter, compared to analysts’ expectations of $12.36 million. Equities research analysts expect that Immatics will post -0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immatics

A number of institutional investors and hedge funds have recently made changes to their positions in IMTX. AlphaCentric Advisors LLC boosted its holdings in Immatics by 14.3% in the second quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock valued at $232,000 after acquiring an additional 2,500 shares during the last quarter. Quarry LP bought a new position in shares of Immatics in the 2nd quarter valued at about $99,000. Forefront Analytics LLC bought a new position in shares of Immatics in the 2nd quarter valued at about $139,000. The Manufacturers Life Insurance Company grew its position in shares of Immatics by 9.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 164,766 shares of the company’s stock worth $1,880,000 after buying an additional 13,997 shares during the period. Finally, Nan Fung Group Holdings Ltd bought a new stake in shares of Immatics during the first quarter worth approximately $165,000. 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.