Immatics (NASDAQ:IMTX) Hits New 12-Month Low – Here’s What Happened

Immatics (NASDAQ:IMTX)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.20 and last traded at $5.27, with a volume of 1416776 shares changing hands. The stock had previously closed at $5.47.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IMTX shares. Bank of America cut their target price on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. The Goldman Sachs Group raised shares of Immatics to a “strong-buy” rating in a research note on Monday, November 25th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $16.67.

Immatics Price Performance

The company has a market capitalization of $693.48 million, a price-to-earnings ratio of -8.80 and a beta of 0.75. The business has a fifty day moving average price of $6.72 and a 200 day moving average price of $9.25.

Hedge Funds Weigh In On Immatics

Several hedge funds have recently made changes to their positions in the business. Quarry LP increased its holdings in shares of Immatics by 29.4% in the third quarter. Quarry LP now owns 11,000 shares of the company’s stock valued at $126,000 after buying an additional 2,500 shares in the last quarter. AlphaCentric Advisors LLC grew its holdings in shares of Immatics by 25.0% in the 3rd quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock worth $285,000 after acquiring an additional 5,000 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Immatics during the third quarter worth $114,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Immatics by 9.3% during the third quarter. The Manufacturers Life Insurance Company now owns 164,766 shares of the company’s stock valued at $1,880,000 after purchasing an additional 13,997 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of Immatics in the 2nd quarter valued at $242,000. 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.