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

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

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised shares of Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $16.67.

Immatics Stock Performance

The firm has a market capitalization of $596.78 million, a P/E ratio of -7.58 and a beta of 0.83. The business’s fifty day moving average price is $5.06 and its two-hundred day moving average price is $7.70.

Institutional Trading of Immatics

A number of institutional investors have recently modified their holdings of IMTX. The Manufacturers Life Insurance Company boosted its holdings in shares of Immatics by 9.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 164,766 shares of the company’s stock valued at $1,880,000 after buying an additional 13,997 shares in the last quarter. Vestal Point Capital LP boosted 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 purchasing an additional 1,000,000 shares in the last quarter. Braidwell LP acquired a new stake in Immatics in the 3rd quarter worth approximately $18,799,000. Wasatch Advisors LP boosted its stake in Immatics by 3.5% in the 3rd quarter. Wasatch Advisors LP now owns 872,511 shares of the company’s stock worth $9,955,000 after purchasing an additional 29,239 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Immatics in the 3rd quarter worth approximately $298,000. 64.41% of the stock is currently owned by institutional investors.

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.