Immatics (NASDAQ:IMTX) Hits New 52-Week Low – Should You Sell?

Immatics (NASDAQ:IMTX) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $5.20 and last traded at $5.27, with a volume of 1416776 shares trading hands. The stock had previously closed at $5.47.

Analyst Upgrades and Downgrades

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

Immatics Price Performance

The firm has a market cap of $693.48 million, a price-to-earnings ratio of -8.80 and a beta of 0.75. The business’s 50-day moving average price is $6.72 and its two-hundred day moving average price is $9.25.

Institutional Trading of Immatics

Several institutional investors and hedge funds have recently bought and sold shares of IMTX. Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Immatics in the 3rd quarter valued at approximately $114,000. Quarry LP increased its stake in Immatics by 29.4% during the third quarter. Quarry LP now owns 11,000 shares of the company’s stock valued at $126,000 after purchasing an additional 2,500 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Immatics during the fourth quarter worth $211,000. Algert Global LLC bought a new position in shares of Immatics in the 2nd quarter worth about $242,000. Finally, AlphaCentric Advisors LLC grew its position in shares of 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 buying an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

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.