Immatics (NASDAQ:IMTX) Stock Price Down 4.2% – Should You Sell?

Immatics (NASDAQ:IMTX)’s stock price was down 4.2% during trading on Friday . The company traded as low as $7.10 and last traded at $7.10. Approximately 23,892 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 497,639 shares. The stock had previously closed at $7.41.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IMTX shares. The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th. Piper Sandler assumed coverage on Immatics in a research report on Monday, October 7th. They set an “overweight” rating and a $19.00 price objective on the stock. Finally, Bank of America decreased their price objective on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Four investment 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 presently has a consensus rating of “Buy” and a consensus price target of $16.67.

Immatics Stock Performance

The firm has a 50-day simple moving average of $8.83 and a two-hundred day simple moving average of $10.86.

Institutional Investors Weigh In On Immatics

A number of institutional investors have recently modified their holdings of IMTX. Quarry LP acquired a new stake in Immatics in the 2nd quarter worth about $99,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Immatics during the 3rd quarter valued at approximately $114,000. Forefront Analytics LLC purchased a new stake in shares of Immatics during the 2nd quarter valued at approximately $139,000. AlphaCentric Advisors LLC raised its position in Immatics by 14.3% in the second quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock valued at $232,000 after purchasing an additional 2,500 shares during the period. Finally, Algert Global LLC purchased a new stake in Immatics in the second quarter valued at approximately $242,000. 64.41% of the stock is currently 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.