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

Shares of Immatics (NASDAQ:IMTX - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $7.80 and last traded at $7.80, with a volume of 7445 shares changing hands. The stock had previously closed at $8.57.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IMTX. Piper Sandler began coverage on shares of Immatics in a research note on Monday, October 7th. They issued an "overweight" rating and a $19.00 price objective on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immatics in a research note on Thursday, September 5th.

Immatics Price Performance

The business's 50-day moving average price is $10.48 and its two-hundred day moving average price is $11.28. The company has a market capitalization of $1.02 billion, a P/E ratio of -9.61 and a beta of 0.78.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.18) earnings per share for the quarter, topping analysts' consensus estimates of ($0.35) by $0.17. Immatics had a negative net margin of 103.99% and a negative return on equity of 23.34%. The company had revenue of $20.19 million for the quarter, compared to analysts' expectations of $12.36 million. Research analysts expect that Immatics will post -0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immatics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of Immatics during the second quarter worth $99,000. Forefront Analytics LLC acquired a new stake in Immatics in the 2nd quarter valued at $139,000. Nan Fung Group Holdings Ltd acquired a new stake in Immatics in the 1st quarter valued at $165,000. AlphaCentric Advisors LLC increased its stake in Immatics by 14.3% in the 2nd quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company's stock valued at $232,000 after buying an additional 2,500 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in Immatics in the 2nd quarter valued at $242,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.

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.