Immatics (NASDAQ:IMTX) Price Target Cut to $15.00 by Analysts at Bank of America

Immatics (NASDAQ:IMTX) had its price target decreased by stock analysts at Bank of America from $16.00 to $15.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 94.81% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th. Piper Sandler assumed coverage on shares of Immatics in a report on Monday, October 7th. They set an “overweight” rating and a $19.00 price target on the stock.

Immatics Trading Down 1.5 %

IMTX traded down $0.12 during trading on Tuesday, hitting $7.70. 564,326 shares of the company’s stock traded hands, compared to its average volume of 496,700. The stock has a market capitalization of $919.04 million, a price-to-earnings ratio of -8.80 and a beta of 0.78. The company’s 50 day simple moving average is $10.26 and its two-hundred day simple moving average is $11.24. Immatics has a 12-month low of $7.70 and a 12-month high of $13.77.

Institutional Investors Weigh In On Immatics

Several hedge funds and other institutional investors have recently made changes to their positions in IMTX. Frazier Life Sciences Management L.P. grew its position in Immatics by 17.5% during the third quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company’s stock valued at $15,457,000 after buying an additional 202,255 shares during the period. Wellington Management Group LLP grew its holdings in Immatics by 1.5% during the third quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock valued at $110,462,000 after purchasing an additional 144,549 shares during the period. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Immatics in the third quarter worth about $114,000. State Street Corp grew its stake in shares of Immatics by 11.2% during the 3rd quarter. State Street Corp now owns 225,202 shares of the company’s stock valued at $2,570,000 after acquiring an additional 22,710 shares during the period. Finally, Quarry LP raised its stake in Immatics by 29.4% during the 3rd quarter. Quarry LP now owns 11,000 shares of the company’s stock worth $126,000 after acquiring an additional 2,500 shares during the period. 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.