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

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

Analyst Ratings Changes

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

Immatics Stock Performance

The stock’s fifty day moving average price is $6.18 and its two-hundred day moving average price is $8.76. The company has a market cap of $578.30 million, a P/E ratio of -7.34 and a beta of 0.75.

Hedge Funds Weigh In On Immatics

A number of institutional investors have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. increased its position in Immatics by 58.6% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,147,911 shares of the company’s stock worth $15,272,000 after purchasing an additional 793,200 shares in the last quarter. Zimmer Partners LP increased its position in Immatics by 44.6% during the 4th quarter. Zimmer Partners LP now owns 405,000 shares of the company’s stock worth $2,880,000 after purchasing an additional 125,000 shares in the last quarter. Vestal Point Capital LP increased its position in Immatics by 67.3% during the 4th quarter. Vestal Point Capital LP now owns 6,275,000 shares of the company’s stock worth $44,615,000 after purchasing an additional 2,525,000 shares in the last quarter. Suvretta Capital Management LLC acquired a new position in Immatics during the 4th quarter worth approximately $36,014,000. Finally, Sphera Funds Management LTD. increased its position in Immatics by 27.7% during the 4th quarter. Sphera Funds Management LTD. now owns 921,111 shares of the company’s stock worth $6,549,000 after purchasing an additional 200,000 shares in the last quarter. 64.41% of the stock is currently owned by institutional investors and hedge funds.

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.