Immatics (NASDAQ:IMTX) Trading Down 5% – Here’s What Happened

Immatics N.V. (NASDAQ:IMTX)’s share price traded down 5% on Friday . The stock traded as low as $9.95 and last traded at $9.79. 25,593 shares were traded during trading, a decline of 93% from the average session volume of 381,668 shares. The stock had previously closed at $10.30.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IMTX. Wall Street Zen upgraded Immatics from a “sell” rating to a “hold” rating in a report on Saturday. Chardan Capital reaffirmed a “buy” rating and issued a $25.00 target price on shares of Immatics in a research report on Monday, November 24th. Guggenheim raised their price objective on Immatics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Leerink Partners reiterated an “outperform” rating and set a $17.00 target price on shares of Immatics in a report on Thursday, December 4th. Finally, Mizuho set a $25.00 price target on Immatics in a research report on Thursday. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Immatics has an average rating of “Moderate Buy” and a consensus price target of $19.20.

Immatics Stock Down 2.3%

The stock has a market cap of $1.22 billion, a P/E ratio of -9.86 and a beta of 1.36. The firm has a 50 day simple moving average of $9.89 and a 200-day simple moving average of $8.92.

Hedge Funds Weigh In On Immatics

Several large investors have recently modified their holdings of IMTX. Fox Run Management L.L.C. bought a new position in Immatics in the 2nd quarter valued at about $136,000. Vanguard Personalized Indexing Management LLC acquired a new position in Immatics in the 2nd quarter valued at $237,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Immatics by 28.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,894 shares of the company’s stock worth $172,000 after purchasing an additional 7,116 shares during the period. Aberdeen Group plc lifted its holdings in shares of Immatics by 9.7% during the 3rd quarter. Aberdeen Group plc now owns 789,446 shares of the company’s stock worth $6,726,000 after acquiring an additional 69,860 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of Immatics in the 2nd quarter valued at $124,000. 64.41% of the stock is owned by institutional investors.

About Immatics

Immatics N.V. (NASDAQ: IMTX) is a clinical-stage biotechnology company dedicated to the development of T cell receptor (TCR)-based immunotherapies for solid tumors. The company leverages its proprietary discovery and engineering platforms to identify tumor-specific peptide targets and develop therapies that harness the power of a patient’s immune system. Immatics’ approach aims to generate durable responses by guiding T cells to recognize and kill cancer cells with high precision.

At the core of Immatics’ technology suite is the XPRESIDENT® platform, which mines the cancer peptidome to uncover novel tumor antigens naturally presented on the surface of cancer cells.