Immatics (NASDAQ:IMTX) Stock Price Down 5.3% - Here's What Happened

Immatics (NASDAQ:IMTX - Get Free Report)'s stock price fell 5.3% on Friday . The stock traded as low as $5.01 and last traded at $5.02. 45,003 shares changed hands during trading, a decline of 92% from the average session volume of 594,125 shares. The stock had previously closed at $5.30.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised shares of Immatics to a "strong-buy" rating in a report on Monday, November 25th. Four research 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 stock has a consensus rating of "Buy" and an average price target of $16.67.

Immatics Stock Performance

The company has a market cap of $595.59 million, a P/E ratio of -7.56 and a beta of 0.83. The business has a fifty day simple moving average of $5.06 and a 200 day simple moving average of $7.68.

Hedge Funds Weigh In On Immatics

A number of hedge funds have recently added to or reduced their stakes in IMTX. Suvretta Capital Management LLC acquired a new stake in shares of Immatics during the fourth quarter worth $36,014,000. T. Rowe Price Investment Management Inc. raised its stake in Immatics by 43.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,604,777 shares of the company's stock worth $75,400,000 after acquiring an additional 3,225,141 shares during the period. Vestal Point Capital LP raised its stake in Immatics by 67.3% during the fourth quarter. Vestal Point Capital LP now owns 6,275,000 shares of the company's stock worth $44,615,000 after acquiring an additional 2,525,000 shares during the period. Braidwell LP lifted its holdings in Immatics by 112.7% in the fourth quarter. Braidwell LP now owns 3,503,965 shares of the company's stock worth $24,913,000 after acquiring an additional 1,856,400 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP boosted its stake in Immatics by 38.7% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company's stock valued at $38,496,000 after acquiring an additional 1,509,547 shares during the period. Institutional investors and hedge funds own 64.41% of the company's stock.

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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.