Immatics (NASDAQ:IMTX) Hits New 1-Year Low – Here’s What Happened

Immatics (NASDAQ:IMTX)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $5.27 and last traded at $5.29, with a volume of 164475 shares traded. The stock had previously closed at $5.40.

Analyst Ratings Changes

IMTX has been the subject of several analyst reports. The Goldman Sachs Group upgraded shares of Immatics to a “strong-buy” rating in a report on Monday, November 25th. Piper Sandler began coverage on Immatics in a research note on Monday, October 7th. They issued an “overweight” rating and a $19.00 price target on the stock. Finally, Bank of America lowered their price objective on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Immatics has a consensus rating of “Buy” and a consensus target price of $16.67.

Immatics Stock Up 0.5 %

The firm has a market capitalization of $668.42 million, a price-to-earnings ratio of -8.48 and a beta of 0.77. The company has a fifty day moving average price of $7.10 and a two-hundred day moving average price of $9.67.

Institutional Trading of Immatics

A number of large investors have recently bought and sold shares of the business. Perceptive Advisors LLC increased its stake in Immatics by 76.5% in the 2nd quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock valued at $93,961,000 after purchasing an additional 3,503,750 shares in the last quarter. Braidwell LP purchased a new stake in Immatics in the 3rd quarter valued at about $18,799,000. Frazier Life Sciences Management L.P. purchased a new stake in Immatics in the second quarter valued at approximately $13,392,000. Vestal Point Capital LP increased its holdings in shares of Immatics by 36.4% during the 3rd quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock worth $42,788,000 after buying an additional 1,000,000 shares during the last quarter. Finally, abrdn plc purchased a new position in shares of Immatics in the 3rd quarter worth $2,657,000. 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.