Immatics (NASDAQ:IMTX) Short Interest Update

Immatics (NASDAQ:IMTX) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 7,700,000 shares, an increase of 15.1% from the October 31st total of 6,690,000 shares. Based on an average trading volume of 599,700 shares, the days-to-cover ratio is currently 12.8 days.

Immatics Trading Up 5.2 %

NASDAQ:IMTX traded up $0.41 during midday trading on Friday, hitting $8.32. 272,323 shares of the company traded hands, compared to its average volume of 601,202. Immatics has a 12-month low of $7.46 and a 12-month high of $13.77. The firm has a market capitalization of $993.04 million, a P/E ratio of -12.61 and a beta of 0.78. The firm’s fifty day moving average is $9.47 and its 200-day moving average is $11.05.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IMTX. AlphaCentric Advisors LLC lifted its position in shares of Immatics by 14.3% during the second quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock worth $232,000 after purchasing an additional 2,500 shares during the last quarter. TD Asset Management Inc grew its stake in Immatics by 11.8% in the 2nd quarter. TD Asset Management Inc now owns 357,526 shares of the company’s stock worth $4,154,000 after acquiring an additional 37,770 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Immatics during the second quarter worth approximately $321,000. HighVista Strategies LLC bought a new stake in shares of Immatics during the second quarter valued at approximately $904,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Immatics in the second quarter valued at approximately $2,404,000. Institutional investors own 64.41% of the company’s stock.

Wall Street Analyst Weigh In

IMTX has been the topic of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a report on Thursday, September 5th. The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Bank of America decreased their target price on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Finally, Piper Sandler assumed coverage on Immatics in a report on Monday, October 7th. They set an “overweight” rating and a $19.00 price target for the company. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Immatics currently has a consensus rating of “Buy” and a consensus price target of $16.67.

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.