Immatics (NASDAQ:IMTX) Trading Down 4.7% – What’s Next?

Immatics (NASDAQ:IMTX) shares were down 4.7% during trading on Tuesday . The stock traded as low as $4.95 and last traded at $5.02. Approximately 43,568 shares changed hands during trading, a decline of 96% from the average daily volume of 1,138,988 shares. The stock had previously closed at $5.27.

Analysts Set New Price Targets

Several analysts have recently commented on IMTX shares. Bank of America decreased their price objective on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a research note on Monday, November 25th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $16.67.

Immatics Stock Performance

The firm has a market cap of $586.65 million, a PE ratio of -7.51 and a beta of 0.75. The stock has a 50 day simple moving average of $6.51 and a two-hundred day simple moving average of $9.05.

Hedge Funds Weigh In On Immatics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Platinum Investment Management Ltd. lifted its holdings in shares of Immatics by 53.1% in the 4th quarter. Platinum Investment Management Ltd. now owns 311,722 shares of the company’s stock valued at $2,216,000 after buying an additional 108,108 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Immatics in the 4th quarter valued at about $211,000. abrdn plc lifted its holdings in shares of Immatics by 49.2% in the 4th quarter. abrdn plc now owns 347,379 shares of the company’s stock valued at $2,470,000 after buying an additional 114,479 shares during the period. Frazier Life Sciences Management L.P. raised its holdings in Immatics by 17.5% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company’s stock worth $15,457,000 after purchasing an additional 202,255 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Immatics by 1.5% in 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. Institutional investors and hedge funds own 64.41% of the company’s stock.

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.