Immatics (NASDAQ:IMTX) Sets New 1-Year Low – Should You Sell?

Shares of Immatics (NASDAQ:IMTX) reached a new 52-week low during trading on Tuesday . The company traded as low as $4.06 and last traded at $4.21, with a volume of 149089 shares traded. The stock had previously closed at $4.18.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IMTX shares. Bank of America cut their price target on shares of Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $16.67.

Immatics Trading Up 3.8 %

The business’s 50-day simple moving average is $5.70 and its 200-day simple moving average is $8.32. The company has a market capitalization of $518.01 million, a PE ratio of -6.58 and a beta of 0.75.

Institutional Investors Weigh In On Immatics

Several hedge funds have recently added to or reduced their stakes in IMTX. Bank of America Corp DE lifted its holdings in shares of Immatics by 166.0% in the 4th 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 lifted its holdings in Immatics by 34.8% in the fourth quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock valued at $68,000 after acquiring an additional 2,479 shares during the period. Guggenheim Capital LLC purchased a new stake in Immatics in the 4th quarter worth approximately $101,000. Forefront Analytics LLC grew its stake in shares of Immatics by 42.3% during the 4th quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock worth $113,000 after purchasing an additional 4,731 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Immatics during the 3rd quarter worth approximately $114,000. 64.41% of the stock is owned by hedge funds and other institutional investors.

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.