Immatics (NASDAQ:IMTX) Trading Down 4.2% - What's Next?

Immatics (NASDAQ:IMTX - Get Free Report) dropped 4.2% on Friday . The company traded as low as $7.10 and last traded at $7.10. Approximately 23,892 shares changed hands during trading, a decline of 95% from the average daily volume of 497,639 shares. The stock had previously closed at $7.41.

Wall Street Analysts Forecast Growth

IMTX has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Immatics in a research report on Thursday, September 5th. Bank of America dropped their price target on shares of Immatics from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, November 19th. Piper Sandler started coverage on shares of Immatics in a report on Monday, October 7th. They issued an "overweight" rating and a $19.00 price objective on the stock. Finally, The Goldman Sachs Group raised shares of Immatics to a "strong-buy" rating in a research report on Monday, November 25th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Immatics currently has an average rating of "Buy" and an average price target of $16.67.

Immatics Stock Performance

The company has a market capitalization of $860.56 million, a price-to-earnings ratio of -10.92 and a beta of 0.74. The firm has a 50-day simple moving average of $8.75 and a two-hundred day simple moving average of $10.82.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Frazier Life Sciences Management L.P. boosted its holdings in Immatics by 17.5% in the third quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company's stock valued at $15,457,000 after purchasing an additional 202,255 shares during the period. Wellington Management Group LLP raised its position in Immatics by 1.5% in the 3rd 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 in the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Immatics in the 3rd quarter valued at about $114,000. State Street Corp grew its position in shares of Immatics by 11.2% during the third quarter. State Street Corp now owns 225,202 shares of the company's stock worth $2,570,000 after buying an additional 22,710 shares in the last quarter. Finally, Quarry LP increased its stake in shares of Immatics by 29.4% during the third quarter. Quarry LP now owns 11,000 shares of the company's stock worth $126,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 64.41% of the company's stock.

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.