Short Interest in Immatics (NASDAQ:IMTX) Expands By 6.4%

Immatics (NASDAQ:IMTX) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 8,190,000 shares, a growth of 6.4% from the November 15th total of 7,700,000 shares. Based on an average daily volume of 596,800 shares, the short-interest ratio is currently 13.7 days.

Hedge Funds Weigh In On Immatics

A number of institutional investors have recently made changes to their positions in IMTX. Quarry LP acquired a new position in Immatics in the 2nd quarter valued at about $99,000. Texas Capital Bank Wealth Management Services Inc acquired a new position in Immatics in the 3rd quarter valued at $114,000. Forefront Analytics LLC acquired a new stake in shares of Immatics in the second quarter worth approximately $139,000. AlphaCentric Advisors LLC raised its holdings in shares of Immatics by 14.3% in the 2nd quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock worth $232,000 after purchasing an additional 2,500 shares during the period. Finally, Algert Global LLC purchased a new stake in shares of Immatics during the 2nd quarter worth about $242,000. 64.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IMTX has been the subject of a number of recent research reports. Bank of America decreased their price target on shares of Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a research note on Thursday, September 5th. Piper Sandler assumed coverage on Immatics in a research note on Monday, October 7th. They set an “overweight” rating and a $19.00 price target for the company. Finally, The Goldman Sachs Group upgraded shares of Immatics to a “strong-buy” rating in a research report 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 data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $16.67.

Immatics Stock Up 0.8 %

Shares of NASDAQ IMTX opened at $7.27 on Tuesday. The firm has a 50-day moving average price of $8.68 and a 200 day moving average price of $10.79. Immatics has a 52 week low of $6.99 and a 52 week high of $13.77. The stock has a market capitalization of $867.72 million, a price-to-earnings ratio of -11.02 and a beta of 0.74.

Immatics Company Profile

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.