Immatics (NASDAQ:IMTX) Hits New 52-Week Low - Here's What Happened

Immatics (NASDAQ:IMTX - Get Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $4.06 and last traded at $4.21, with a volume of 149089 shares traded. The stock had previously closed at $4.18.

Analysts Set New Price Targets

Several equities analysts recently weighed in on IMTX shares. The Goldman Sachs Group upgraded Immatics to a "strong-buy" rating in a research report on Monday, November 25th. Bank of America dropped their price target on Immatics from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, November 19th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $16.67.

Immatics Stock Down 2.9 %

The company has a market capitalization of $556.20 million, a price-to-earnings ratio of -7.06 and a beta of 0.83. The company has a 50 day simple moving average of $5.50 and a 200 day simple moving average of $8.17.

Institutional Investors Weigh In On Immatics

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMTX. Bank of America Corp DE grew its stake in shares of Immatics by 166.0% in the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company's stock valued at $25,000 after buying an additional 2,231 shares in the last quarter. Virtus ETF Advisers LLC grew its stake in shares of Immatics by 34.8% in the fourth quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company's stock valued at $68,000 after buying an additional 2,479 shares in the last quarter. Guggenheim Capital LLC acquired a new stake in shares of Immatics in the fourth quarter valued at about $101,000. Forefront Analytics LLC grew its stake in shares of Immatics by 42.3% in the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company's stock valued at $113,000 after buying an additional 4,731 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Immatics in the third quarter valued at about $114,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.

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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.