Immatics (NASDAQ:IMTX) Hits New 52-Week Low – Time to Sell?

Immatics (NASDAQ:IMTX) shares hit a new 52-week low on Thursday . The company traded as low as $7.80 and last traded at $7.80, with a volume of 7445 shares changing hands. The stock had previously closed at $8.57.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler began coverage on shares of Immatics in a research report on Monday, October 7th. They set an “overweight” rating and a $19.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a report on Thursday, September 5th.

Immatics Trading Down 4.2 %

The firm has a market cap of $975.17 million, a PE ratio of -9.18 and a beta of 0.78. The business’s 50-day simple moving average is $10.35 and its 200 day simple moving average is $11.25.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.17. The company had revenue of $20.19 million for the quarter, compared to analyst estimates of $12.36 million. Immatics had a negative net margin of 103.99% and a negative return on equity of 23.34%. Analysts expect that Immatics will post -0.93 earnings per share for the current year.

Institutional Investors Weigh In On Immatics

A number of institutional investors have recently added to or reduced their stakes in IMTX. Quarry LP purchased a new stake in shares of Immatics during the second quarter valued at about $99,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Immatics during the third quarter valued at approximately $114,000. Forefront Analytics LLC purchased a new stake in Immatics during the second quarter valued at approximately $139,000. Nan Fung Group Holdings Ltd acquired a new stake in Immatics in the first quarter valued at approximately $165,000. Finally, AlphaCentric Advisors LLC grew its holdings in Immatics by 14.3% in the second quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock worth $232,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 64.41% of the company’s stock.

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.