Immatics (NASDAQ:IMTX) Shares Down 3.9% - What's Next?

Immatics (NASDAQ:IMTX - Get Free Report)'s share price fell 3.9% during trading on Wednesday . The company traded as low as $5.73 and last traded at $5.74. 291,145 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 872,984 shares. The stock had previously closed at $5.97.

Analysts Set New Price Targets

IMTX has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded Immatics to a "strong-buy" rating in a research report on Monday, November 25th. Bank of America cut their target price on shares of Immatics from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, November 19th. Finally, 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 target on the stock. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $16.67.

Immatics Stock Down 3.0 %

The stock's 50-day moving average price is $7.58 and its 200 day moving average price is $9.96. The firm has a market capitalization of $691.07 million, a price-to-earnings ratio of -8.77 and a beta of 0.77.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. HighVista Strategies LLC acquired a new stake in shares of Immatics in the second quarter valued at approximately $904,000. Vestal Point Capital LP increased its stake in shares of Immatics by 36.4% in the 3rd quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company's stock worth $42,788,000 after acquiring an additional 1,000,000 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new position in shares of Immatics during the 2nd quarter valued at about $13,392,000. abrdn plc acquired a new position in shares of Immatics during the 3rd quarter valued at about $2,657,000. Finally, Wellington Management Group LLP grew its holdings in shares of Immatics by 1.5% in the third quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company's stock valued at $110,462,000 after purchasing an additional 144,549 shares during the period. 64.41% of the stock is owned by hedge funds and other 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.

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