Immatics (NASDAQ:IMTX) Trading Up 7.3% – Time to Buy?

Immatics (NASDAQ:IMTX) was up 7.3% on Monday . The company traded as high as $4.85 and last traded at $4.88. Approximately 302,706 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 588,042 shares. The stock had previously closed at $4.55.

Analyst Ratings Changes

A number of equities research analysts have weighed in on IMTX shares. The Goldman Sachs Group raised shares of Immatics to a “strong-buy” rating in a report on Monday, November 25th. Bank of America reduced 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. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $16.67.

Immatics Stock Up 2.6 %

The company has a market capitalization of $609.91 million, a PE ratio of -7.74 and a beta of 0.83. The business’s 50 day simple moving average is $5.16 and its 200 day simple moving average is $7.80.

Institutional Trading of Immatics

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings 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 valued at $25,000 after purchasing an additional 2,231 shares during the period. Virtus ETF Advisers LLC increased its holdings 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 valued at $68,000 after purchasing an additional 2,479 shares during the period. Guggenheim Capital LLC acquired a new position in shares of Immatics in the 4th quarter valued at about $101,000. Forefront Analytics LLC increased its holdings in shares of Immatics by 42.3% in the 4th quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock valued at $113,000 after purchasing an additional 4,731 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Immatics in the 3rd quarter valued at about $114,000. 64.41% of the stock is owned by hedge funds and other institutional investors.

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.