Immatics (NASDAQ:IMTX) Trading Down 5.3% – Time to Sell?

Immatics (NASDAQ:IMTX) shares traded down 5.3% on Friday . The stock traded as low as $5.01 and last traded at $5.02. 45,003 shares were traded during mid-day trading, a decline of 92% from the average session volume of 594,125 shares. The stock had previously closed at $5.30.

Wall Street Analysts Forecast Growth

Separately, 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $16.67.

Immatics Trading Down 5.7 %

The company has a market cap of $596.78 million, a PE ratio of -7.58 and a beta of 0.83. The company’s 50 day moving average is $5.06 and its 200 day moving average is $7.70.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IMTX. The Manufacturers Life Insurance Company increased its stake in Immatics by 9.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 164,766 shares of the company’s stock worth $1,880,000 after buying an additional 13,997 shares during the period. Vestal Point Capital LP increased its stake in Immatics by 36.4% in the 3rd quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock worth $42,788,000 after buying an additional 1,000,000 shares during the period. Braidwell LP purchased a new position in Immatics during the 3rd quarter valued at about $18,799,000. Wasatch Advisors LP increased its position in Immatics by 3.5% during the 3rd quarter. Wasatch Advisors LP now owns 872,511 shares of the company’s stock valued at $9,955,000 after purchasing an additional 29,239 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Immatics during the 3rd quarter valued at about $298,000. Hedge funds and other institutional investors 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.