Immatics (NASDAQ:IMTX) Sees Unusually-High Trading Volume

Immatics (NASDAQ:IMTX) shares saw strong trading volume on Friday . 277,547 shares changed hands during trading, a decline of 43% from the previous session’s volume of 490,941 shares.The stock last traded at $10.52 and had previously closed at $9.82.

Wall Street Analysts Forecast Growth

Separately, Mizuho boosted their target price on Immatics from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th.

Immatics Stock Performance

The company has a 50-day simple moving average of $10.76 and a 200-day simple moving average of $10.71. The company has a market cap of $950.73 million, a price-to-earnings ratio of -10.10 and a beta of 0.69.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.09. The business had revenue of $17.14 million for the quarter, compared to analyst estimates of $11.78 million. Immatics had a negative return on equity of 29.36% and a negative net margin of 107.80%. As a group, equities research analysts forecast that Immatics will post -1.26 EPS for the current year.

Institutional Investors Weigh In On Immatics

Several institutional investors have recently modified their holdings of IMTX. Exchange Traded Concepts LLC boosted its stake in shares of Immatics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 11,501 shares of the company’s stock worth $121,000 after acquiring an additional 2,916 shares in the last quarter. Nan Fung Group Holdings Ltd purchased a new stake in shares of Immatics during the 1st quarter worth approximately $165,000. ADAR1 Capital Management LLC purchased a new stake in shares of Immatics during the 4th quarter worth approximately $232,000. Jump Financial LLC purchased a new stake in shares of Immatics during the 3rd quarter worth approximately $469,000. Finally, Trexquant Investment LP lifted its stake in Immatics by 4.2% in the 4th quarter. Trexquant Investment LP now owns 44,773 shares of the company’s stock valued at $471,000 after buying an additional 1,801 shares in the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.

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.