Immatics (NASDAQ:IMTX) Hits New 12-Month Low – Here’s What Happened

Immatics (NASDAQ:IMTX)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $5.73 and last traded at $5.75, with a volume of 695395 shares. The stock had previously closed at $5.97.

Analyst Ratings Changes

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

Immatics Trading Up 0.2 %

The stock’s 50-day moving average price is $7.35 and its 200-day moving average price is $9.85. The stock has a market cap of $638.58 million, a price-to-earnings ratio of -8.11 and a beta of 0.77.

Hedge Funds Weigh In On Immatics

Several hedge funds and other institutional investors have recently bought and sold shares of IMTX. Quarry LP raised its position in shares of Immatics by 29.4% in the 3rd quarter. Quarry LP now owns 11,000 shares of the company’s stock worth $126,000 after acquiring an additional 2,500 shares in the last quarter. AlphaCentric Advisors LLC grew its stake in Immatics by 25.0% during the third quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock worth $285,000 after purchasing an additional 5,000 shares during the period. Texas Capital Bank Wealth Management Services Inc bought a new stake in Immatics in the third quarter worth approximately $114,000. Forefront Analytics LLC acquired a new position in Immatics in the second quarter valued at approximately $139,000. Finally, The Manufacturers Life Insurance Company boosted its holdings 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 in the last quarter. Institutional investors and hedge funds 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.