Immatics (NASDAQ:IMTX) Sets New 52-Week Low – Here’s Why

Immatics (NASDAQ:IMTX) shares hit a new 52-week low during trading on Thursday . The company traded as low as $5.73 and last traded at $5.75, with a volume of 695395 shares traded. The stock had previously closed at $5.97.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IMTX shares. The Goldman Sachs Group raised shares of Immatics to a “strong-buy” rating in a report on Monday, November 25th. Piper Sandler began coverage on shares of Immatics in a research note on Monday, October 7th. They set an “overweight” rating and a $19.00 target price for the company. Finally, Bank of America decreased their target price 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. Four investment 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, Immatics has an average rating of “Buy” and a consensus target price of $16.67.

Immatics Price Performance

The firm has a market cap of $686.30 million, a price-to-earnings ratio of -8.71 and a beta of 0.77. The firm’s fifty day moving average is $7.58 and its two-hundred day moving average is $9.96.

Institutional Investors Weigh In On Immatics

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new position in Immatics during the second quarter valued at about $99,000. Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Immatics in the third quarter valued at $114,000. Forefront Analytics LLC acquired a new position in shares of Immatics in the 2nd quarter worth $139,000. Algert Global LLC purchased a new stake in shares of Immatics during the second quarter valued at $242,000. Finally, AlphaCentric Advisors LLC raised its holdings in Immatics by 25.0% during the 3rd quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock worth $285,000 after buying an additional 5,000 shares during the period. 64.41% of the stock is currently owned by institutional investors and hedge funds.

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.