Immatics (NASDAQ:IMTX) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Immatics (NASDAQ:IMTX) saw strong trading volume on Thursday . 1,005,206 shares were traded during mid-day trading, an increase of 70% from the previous session’s volume of 590,925 shares.The stock last traded at $5.36 and had previously closed at $5.37.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded shares of 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $16.67.

Immatics Stock Performance

The business has a fifty day simple moving average of $5.12 and a 200-day simple moving average of $7.78. The stock has a market capitalization of $636.17 million, a P/E ratio of -8.08 and a beta of 0.83.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in shares of Immatics by 166.0% in the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after acquiring an additional 2,231 shares in the last quarter. Virtus ETF Advisers LLC boosted its stake in shares of Immatics by 34.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock worth $68,000 after buying an additional 2,479 shares during the last quarter. Guggenheim Capital LLC bought a new position in shares of Immatics in the fourth quarter valued at approximately $101,000. Forefront Analytics LLC increased its position in shares of Immatics by 42.3% during the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock valued at $113,000 after acquiring an additional 4,731 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc bought a new stake in Immatics during the third quarter worth $114,000. Hedge funds and other institutional investors own 64.41% of the company’s stock.

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.