Immatics (NASDAQ:IMTX) Sets New 1-Year Low - Should You Sell?

Immatics (NASDAQ:IMTX - Get Free Report) reached a new 52-week low 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 Ratings Changes

A number of brokerages have recently commented on IMTX. 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. The Goldman Sachs Group upgraded shares of Immatics to a "strong-buy" rating in a report on Monday, November 25th. Finally, Piper Sandler initiated coverage on shares of Immatics in a report on Monday, October 7th. They set an "overweight" rating and a $19.00 target price for the company. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $16.67.

Immatics Stock Performance

The stock has a market cap of $646.93 million, a P/E ratio of -8.21 and a beta of 0.75. The business's 50-day moving average price is $6.77 and its 200-day moving average price is $9.30.

Institutional Trading of Immatics

Several institutional investors have recently made changes to their positions in the business. Quarry LP raised 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 in the last quarter. AlphaCentric Advisors LLC increased its holdings in shares of Immatics by 25.0% in the 3rd quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company's stock worth $285,000 after buying an additional 5,000 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Immatics during the 3rd quarter valued at about $114,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Immatics by 9.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 164,766 shares of the company's stock valued at $1,880,000 after acquiring an additional 13,997 shares during the last quarter. Finally, Algert Global LLC purchased a new position in Immatics in the second quarter worth about $242,000. Hedge funds and other institutional investors 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.