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 30th, there was short interest totalling 8,190,000 shares, an increase of 6.4% from the November 15th total of 7,700,000 shares. Based on an average daily volume of 596,800 shares, the days-to-cover ratio is presently 13.7 days.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Piper Sandler began coverage on Immatics in a research note on Monday, October 7th. They set an “overweight” rating and a $19.00 price objective for the company. 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. The Goldman Sachs Group raised shares of Immatics to a “strong-buy” rating in a report on Monday, November 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research note on Thursday, September 5th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Immatics currently has a consensus rating of “Buy” and an average target price of $16.67.

Immatics Trading Up 0.8 %

Shares of IMTX opened at $7.27 on Tuesday. Immatics has a 12-month low of $6.99 and a 12-month high of $13.77. The firm has a market capitalization of $867.72 million, a P/E ratio of -11.02 and a beta of 0.74. The firm has a 50-day moving average price of $8.68 and a 200 day moving average price of $10.79.

Hedge Funds Weigh In On Immatics

A number of hedge funds have recently made changes to their positions in IMTX. Wellington Management Group LLP increased its stake in shares of Immatics by 1.5% during the third quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock worth $110,462,000 after buying an additional 144,549 shares during the period. Perceptive Advisors LLC raised its holdings in shares of Immatics by 76.5% in the 2nd quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock valued at $93,961,000 after purchasing an additional 3,503,750 shares in the last quarter. Vestal Point Capital LP lifted its position in shares of Immatics by 36.4% during the 3rd 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. Braidwell LP acquired a new position in shares of Immatics during the third quarter worth $18,799,000. Finally, Frazier Life Sciences Management L.P. increased its holdings in Immatics by 17.5% in the third quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company’s stock valued at $15,457,000 after buying an additional 202,255 shares during 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.