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

Immatics (NASDAQ:IMTX)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $5.27 and last traded at $5.31, with a volume of 113573 shares changing hands. The stock had previously closed at $5.34.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on IMTX shares. The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Bank of America dropped their target price 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. Finally, Piper Sandler assumed coverage on shares of Immatics in a report on Monday, October 7th. They issued an “overweight” rating and a $19.00 price target for the company. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $16.67.

Immatics Price Performance

The firm has a 50-day moving average price of $6.86 and a two-hundred day moving average price of $9.44. The company has a market capitalization of $652.90 million, a price-to-earnings ratio of -8.29 and a beta of 0.77.

Hedge Funds Weigh In On Immatics

Hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in Immatics during the second quarter worth $2,404,000. The Manufacturers Life Insurance Company boosted its stake in shares of Immatics by 13.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 150,769 shares of the company’s stock worth $1,752,000 after buying an additional 18,354 shares during the last quarter. Algert Global LLC bought a new position in shares of Immatics in the 2nd quarter valued at about $242,000. abrdn plc bought a new position in shares of Immatics in the 3rd quarter valued at about $2,657,000. Finally, AlphaCentric Advisors LLC increased its position in shares of Immatics by 25.0% in the third quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock valued at $285,000 after acquiring an additional 5,000 shares during the last quarter. 64.41% of the stock is owned by 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.