Immatics (NASDAQ:IMTX) Sets New 52-Week Low – Here’s Why

Immatics (NASDAQ:IMTX)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $6.67 and last traded at $6.68, with a volume of 203797 shares changing hands. The stock had previously closed at $6.97.

Analyst Ratings Changes

Several research firms have recently commented on IMTX. Bank of America lowered their price objective on shares of Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Piper Sandler started coverage on shares of Immatics in a research report on Monday, October 7th. They issued an “overweight” rating and a $19.00 price target for the company. Finally, The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a research note on Monday, November 25th. Four equities 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, the stock currently has a consensus rating of “Buy” and an average price target of $16.67.

Immatics Trading Down 7.7 %

The stock has a fifty day simple moving average of $7.71 and a two-hundred day simple moving average of $10.05. The company has a market cap of $767.46 million, a PE ratio of -9.74 and a beta of 0.77.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IMTX. Quarry LP purchased a new stake in shares of Immatics in the second quarter worth about $99,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Immatics during the 3rd quarter valued at approximately $114,000. Forefront Analytics LLC bought a new position in shares of Immatics in the 2nd quarter worth about $139,000. Algert Global LLC acquired a new position in Immatics in the second quarter valued at approximately $242,000. Finally, AlphaCentric Advisors LLC boosted its position in Immatics by 25.0% during the 3rd quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock valued at $285,000 after purchasing an additional 5,000 shares during the period. 64.41% of the stock is currently owned by institutional investors and hedge funds.

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.