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

Immatics (NASDAQ:IMTX) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $7.46 and last traded at $7.46, with a volume of 5999 shares trading hands. The stock had previously closed at $7.55.

Wall Street Analyst Weigh In

IMTX has been the topic of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research note on Thursday, September 5th. Bank of America cut their target price on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. The Goldman Sachs Group raised shares of Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Finally, 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 price objective for the company. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $16.67.

Immatics Price Performance

The company has a market cap of $878.46 million, a PE ratio of -11.44 and a beta of 0.74. The company’s 50 day simple moving average is $8.94 and its two-hundred day simple moving average is $10.91.

Institutional Investors Weigh In On Immatics

A number of institutional investors have recently modified their holdings of IMTX. Frazier Life Sciences Management L.P. boosted its holdings 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 acquiring an additional 202,255 shares during the period. Wellington Management Group LLP boosted its stake 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 valued at $110,462,000 after purchasing an additional 144,549 shares during the period. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Immatics in the third quarter valued at approximately $114,000. State Street Corp grew 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 valued at $2,570,000 after purchasing an additional 22,710 shares in the last quarter. Finally, Quarry LP increased its stake in Immatics by 29.4% during the 3rd quarter. Quarry LP now owns 11,000 shares of the company’s stock worth $126,000 after buying an additional 2,500 shares during the period. 64.41% of the stock is owned by institutional investors and hedge funds.

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.