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

Immatics (NASDAQ:IMTX - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The stock traded as low as $6.67 and last traded at $6.68, with a volume of 203797 shares changing hands. The stock had previously closed at $6.97.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of Immatics to a "strong-buy" rating in a research note on Monday, November 25th. Bank of America cut their target price on Immatics from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, November 19th. Finally, Piper Sandler initiated coverage on Immatics in a research report on Monday, October 7th. They set an "overweight" rating and a $19.00 price target on the stock. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $16.67.

Immatics Trading Down 7.7 %

The firm has a market capitalization of $767.46 million, a P/E ratio of -9.74 and a beta of 0.77. The business's fifty day moving average is $7.71 and its 200 day moving average is $10.06.

Institutional Investors Weigh In On Immatics

Several large investors have recently modified their holdings of the stock. Perceptive Advisors LLC raised its holdings in shares of Immatics by 76.5% during the second quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company's stock valued at $93,961,000 after acquiring an additional 3,503,750 shares during the period. Braidwell LP purchased a new position in Immatics during the 3rd quarter worth approximately $18,799,000. Frazier Life Sciences Management L.P. acquired a new stake in Immatics during the 2nd quarter valued at $13,392,000. Vestal Point Capital LP lifted its holdings in shares of Immatics by 36.4% in the third quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company's stock valued at $42,788,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, abrdn plc acquired a new stake in shares of Immatics in the third quarter worth $2,657,000. 64.41% of the stock is owned by institutional investors.

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.