Immatics (NASDAQ:IMTX) Sets New 1-Year Low – What’s Next?

Immatics (NASDAQ:IMTX) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $4.83 and last traded at $4.85, with a volume of 566228 shares trading hands. The stock had previously closed at $5.05.

Analyst Ratings Changes

Several brokerages have issued reports on IMTX. The Goldman Sachs Group upgraded shares of Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Bank of America decreased their price target 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 given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $16.67.

Immatics Price Performance

The company’s 50-day moving average price is $6.18 and its two-hundred day moving average price is $8.76. The company has a market capitalization of $578.30 million, a price-to-earnings ratio of -7.34 and a beta of 0.75.

Institutional Investors Weigh In On Immatics

Several large investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its position in shares of 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 buying an additional 3,225,141 shares during the period. Wellington Management Group LLP increased its position in shares of Immatics by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 10,417,892 shares of the company’s stock worth $74,071,000 after buying an additional 736,709 shares during the period. Baker BROS. Advisors LP increased its position in shares of Immatics by 12.9% during the fourth quarter. Baker BROS. Advisors LP now owns 7,275,830 shares of the company’s stock worth $51,731,000 after buying an additional 832,432 shares during the period. Vestal Point Capital LP boosted 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 in the last quarter. Finally, Paradigm Biocapital Advisors LP boosted its stake in Immatics by 38.7% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company’s stock worth $38,496,000 after acquiring an additional 1,509,547 shares in the last quarter. 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.