Immatics (NASDAQ:IMTX) Shares Down 5.3% - What's Next?

Immatics (NASDAQ:IMTX) experienced a notable decline in its stock price, dropping by 5.3% on Friday. The stock traded as low as $5.01 before closing at $5.02. During this trading session, around 45,003 shares changed hands, marking a significant decrease of 92% compared to its average daily volume of 594,125 shares. Just the day before, the shares had closed at $5.30.

Analysts Set New Price Targets

In a separate development, The Goldman Sachs Group recently upgraded Immatics shares to a "strong-buy" rating in a research report published on November 25th. Currently, four investment analysts have issued buy ratings for the stock, and one analyst has assigned it a strong buy rating. According to information from MarketBeat, Immatics holds an average rating of "Buy" with an average target price of $16.67.

Immatics Stock Performance

Immatics' stock performance reflects some volatility over time; its 50-day simple moving average stands at $5.09, while its 200-day simple moving average is $7.77. The company now has a market capitalization of approximately $599.17 million, a price-to-earnings (P/E) ratio of -7.66, and a beta of 0.83, indicating generally lower volatility compared to the market.

Institutional Trading of Immatics

Recent activity among institutional investors and hedge funds indicates a changing interest in Immatics. For instance, Bank of America Corp DE increased its holdings in the company by 166% during the 4th quarter, now owning 3,575 shares valued at $25,000. Similarly, Virtus ETF Advisers LLC raised its stake by 34.8%, now possessing 9,594 shares worth $68,000 after acquiring 2,479 additional shares. Other institutional changes include Texas Capital Bank Wealth Management Services Inc, which took a new position valued at $114,000, and Quarry LP, which boosted its holdings by 29.4% during the 3rd quarter. Overall, institutional investors now hold about 64.41% of the company's stock.

About Immatics

Immatics N.V. is a clinical-stage biopharmaceutical company specializing in developing T cell redirecting immunotherapies aimed at treating cancer in the United States. The company is focused on innovative immunotherapies designed to target solid tumors through various treatment modalities, including TCR-engineered autologous or allogeneic adoptive cell therapies (ACT) and antibody-like TCR bispecific antibodies.

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This news article was created to provide quick and up-to-date information about Immatics' current market situation.

Should You Invest $1,000 in Immatics Right Now?

Before making any investment decision regarding Immatics, it is advisable to conduct thorough research. Market analysts track top-performing stocks daily and have identified other stocks they believe may offer better returns than Immatics, despite its current "Buy" rating among analysts. Always consider diversifying your investments for better risk management.

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