Immatics (NASDAQ:IMTX) Sets New 52-Week Low – What’s Next?

Immatics (NASDAQ:IMTX) shares reached a new 52-week low on Wednesday . The stock traded as low as $7.46 and last traded at $7.46, with a volume of 5999 shares. The stock had previously closed at $7.55.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a report on Thursday, September 5th. The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a research report on Monday, November 25th. 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 target on the stock. Finally, Bank of America decreased their price target on shares of Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $16.67.

Immatics Price Performance

The company has a market cap of $884.43 million, a P/E ratio of -11.23 and a beta of 0.74. The stock’s 50-day moving average is $8.83 and its two-hundred day moving average is $10.86.

Hedge Funds Weigh In On Immatics

A number of hedge funds have recently made changes to their positions in IMTX. Quarry LP bought a new position in shares of Immatics during the 2nd quarter valued at approximately $99,000. Texas Capital Bank Wealth Management Services Inc bought a new stake in Immatics during the third quarter valued at about $114,000. Forefront Analytics LLC bought a new position in Immatics in the second quarter worth about $139,000. AlphaCentric Advisors LLC boosted its stake in Immatics by 14.3% in the second quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock valued at $232,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Algert Global LLC purchased a new position in Immatics during the 2nd quarter worth $242,000. 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.