Immatics (NASDAQ:IMTX) Sets New 52-Week Low After Analyst Downgrade

Immatics (NASDAQ:IMTX)’s stock price reached a new 52-week low during trading on Wednesday after Bank of America lowered their price target on the stock from $16.00 to $15.00. Bank of America currently has a buy rating on the stock. Immatics traded as low as $7.63 and last traded at $7.63, with a volume of 33589 shares traded. The stock had previously closed at $7.81.

A number of other research firms also recently commented on IMTX. Piper Sandler initiated coverage on Immatics in a research report on Monday, October 7th. They issued an “overweight” rating and a $19.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th.

Hedge Funds Weigh In On Immatics

A number of institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Immatics by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock worth $110,462,000 after purchasing an additional 144,549 shares during the period. Perceptive Advisors LLC boosted its position in Immatics by 76.5% during the second quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock worth $93,961,000 after acquiring an additional 3,503,750 shares during the last quarter. Baker BROS. Advisors LP grew its position in shares of Immatics by 10.4% in the first quarter. Baker BROS. Advisors LP now owns 6,443,398 shares of the company’s stock valued at $67,720,000 after purchasing an additional 604,545 shares during the period. Vestal Point Capital LP raised its stake in Immatics by 36.4% during the third quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock worth $42,788,000 after purchasing an additional 1,000,000 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Immatics by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,225,360 shares of the company’s stock valued at $33,899,000 after purchasing an additional 891,191 shares in the last quarter. 64.41% of the stock is owned by hedge funds and other institutional investors.

Immatics Stock Down 0.1 %

The firm’s 50 day simple moving average is $10.10 and its 200-day simple moving average is $11.20. The company has a market capitalization of $930.98 million, a PE ratio of -8.76 and a beta of 0.78.

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.