Short Interest in Immatics (NASDAQ:IMTX) Increases By 13.1%

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

Institutional Investors Weigh In On Immatics

A number of hedge funds and other institutional investors have recently made changes to their positions in IMTX. Perceptive Advisors LLC boosted its stake in Immatics by 76.5% in the 2nd quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock worth $93,961,000 after buying an additional 3,503,750 shares during the last quarter. Braidwell LP acquired a new stake in shares of Immatics in the third quarter worth approximately $18,799,000. Frazier Life Sciences Management L.P. purchased a new stake in Immatics in the second quarter valued at approximately $13,392,000. Vestal Point Capital LP increased its position in Immatics by 36.4% during the third quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock worth $42,788,000 after purchasing an additional 1,000,000 shares during the last quarter. Finally, abrdn plc purchased a new position in Immatics during the third quarter worth approximately $2,657,000. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Bank of America dropped their price objective 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. Piper Sandler initiated coverage on Immatics in a report on Monday, October 7th. They issued an “overweight” rating and a $19.00 price target for the company. Finally, The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a research note 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $16.67.

Immatics Stock Performance

Shares of NASDAQ IMTX opened at $5.35 on Monday. The firm’s 50 day moving average price is $7.35 and its 200 day moving average price is $9.84. The firm has a market cap of $638.58 million, a P/E ratio of -8.11 and a beta of 0.77. Immatics has a 1 year low of $5.28 and a 1 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.