Immatics (NASDAQ:IMTX) Reaches New 12-Month Low – What’s Next?

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

Analysts Set New Price Targets

IMTX has been the subject of several analyst reports. Bank of America dropped their target price on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a research note on Monday, November 25th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $16.67.

Immatics Stock Down 3.0 %

The company has a market capitalization of $507.26 million, a PE ratio of -6.44 and a beta of 0.75. The stock’s fifty day moving average price is $5.91 and its two-hundred day moving average price is $8.52.

Institutional Investors Weigh In On Immatics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in shares of Immatics by 166.0% during the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after buying an additional 2,231 shares during the period. Virtus ETF Advisers LLC increased its position in Immatics by 34.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock valued at $68,000 after purchasing an additional 2,479 shares during the period. Texas Capital Bank Wealth Management Services Inc bought a new position in Immatics in the 3rd quarter worth $114,000. Quarry LP raised its holdings in Immatics by 29.4% in the 3rd quarter. Quarry LP now owns 11,000 shares of the company’s stock worth $126,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Guggenheim Capital LLC purchased a new stake in shares of Immatics in the 4th quarter worth about $101,000. Hedge funds and other 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.