Immatics (NASDAQ:IMTX) Sees Large Growth in Short Interest

Immatics (NASDAQ:IMTX) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 9,570,000 shares, a growth of 13.1% from the December 31st total of 8,460,000 shares. Based on an average daily volume of 772,000 shares, the days-to-cover ratio is currently 12.4 days.

Institutional Trading of Immatics

Several institutional investors have recently added to or reduced their stakes in the company. Quarry LP grew its stake in shares of Immatics by 29.4% during the third quarter. Quarry LP now owns 11,000 shares of the company’s stock valued at $126,000 after buying an additional 2,500 shares during the last quarter. AlphaCentric Advisors LLC increased its stake in Immatics by 25.0% in the third quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock worth $285,000 after purchasing an additional 5,000 shares during the period. Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Immatics during the third quarter worth $114,000. The Manufacturers Life Insurance Company boosted its stake in shares of Immatics by 9.3% during the third quarter. The Manufacturers Life Insurance Company now owns 164,766 shares of the company’s stock valued at $1,880,000 after purchasing an additional 13,997 shares during the period. Finally, Algert Global LLC bought a new position in shares of Immatics in the second quarter worth about $242,000. Institutional investors own 64.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on IMTX shares. Piper Sandler assumed coverage on Immatics in a research note on Monday, October 7th. They issued an “overweight” rating and a $19.00 price target for the company. Bank of America reduced their price target on shares of Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $16.67.

Immatics Stock Performance

IMTX stock traded down $0.20 during mid-day trading on Monday, reaching $5.27. 1,416,776 shares of the stock traded hands, compared to its average volume of 1,243,772. The business has a 50-day moving average price of $6.81 and a two-hundred day moving average price of $9.35. The stock has a market capitalization of $629.03 million, a PE ratio of -7.98 and a beta of 0.75. Immatics has a one year low of $5.20 and a one year high of $13.77.

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.