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

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

Analyst Upgrades and Downgrades

IMTX has been the topic of several research analyst reports. Piper Sandler assumed coverage on shares of Immatics in a research report on Monday, October 7th. They set an “overweight” rating and a $19.00 price target on the stock. Bank of America decreased their target price on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a research note on Monday, November 25th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $16.67.

Immatics Price Performance

IMTX stock traded down $0.20 on Monday, reaching $5.27. 1,416,776 shares of the company traded hands, compared to its average volume of 1,243,772. The firm has a fifty day simple moving average of $6.81 and a 200-day simple moving average of $9.35. Immatics has a one year low of $5.20 and a one year high of $13.77. The company has a market cap of $629.03 million, a P/E ratio of -7.98 and a beta of 0.75.

Hedge Funds Weigh In On Immatics

Several large investors have recently modified their holdings of IMTX. Cubist Systematic Strategies LLC purchased a new position in Immatics in the second quarter worth about $2,404,000. The Manufacturers Life Insurance Company raised its holdings in Immatics by 13.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 150,769 shares of the company’s stock worth $1,752,000 after acquiring an additional 18,354 shares during the last quarter. Algert Global LLC bought a new position in Immatics in the 2nd quarter valued at approximately $242,000. abrdn plc purchased a new stake in Immatics during the 3rd quarter valued at $2,657,000. Finally, AlphaCentric Advisors LLC increased its holdings in shares of Immatics by 25.0% in the 3rd quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock worth $285,000 after purchasing an additional 5,000 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.