Bank of America Cuts Immatics (NASDAQ:IMTX) Price Target to $15.00

Immatics (NASDAQ:IMTX) had its target price reduced by Bank of America from $16.00 to $15.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research note on Thursday, September 5th. Piper Sandler initiated coverage on shares of Immatics in a research report on Monday, October 7th. They issued an “overweight” rating and a $19.00 target price on the stock.

Immatics Stock Down 2.4 %

Shares of Immatics stock opened at $7.61 on Tuesday. The firm has a market cap of $908.33 million, a PE ratio of -11.53 and a beta of 0.78. Immatics has a fifty-two week low of $7.46 and a fifty-two week high of $13.77. The business’s fifty day moving average is $10.00 and its two-hundred day moving average is $11.17.

Institutional Investors Weigh In On Immatics

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Immatics in the 2nd quarter valued at about $99,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Immatics during the third quarter worth approximately $114,000. Forefront Analytics LLC acquired a new stake in shares of Immatics in the second quarter worth $139,000. Nan Fung Group Holdings Ltd purchased a new position in shares of Immatics in the 1st quarter valued at $165,000. Finally, AlphaCentric Advisors LLC lifted its holdings in shares of Immatics by 14.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock valued at $232,000 after acquiring an additional 2,500 shares in the last quarter. 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.