Platinum Investment Management Ltd. Purchases 108,108 Shares of Immatics (NASDAQ:IMTX)

Platinum Investment Management Ltd. increased its stake in shares of Immatics (NASDAQ:IMTX) by 53.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 311,722 shares of the company’s stock after purchasing an additional 108,108 shares during the period. Platinum Investment Management Ltd. owned 0.26% of Immatics worth $2,216,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Braidwell LP purchased a new stake in shares of Immatics in the 3rd quarter valued at about $18,799,000. Vestal Point Capital LP increased 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 valued at $42,788,000 after purchasing an additional 1,000,000 shares during the last quarter. Frazier Life Sciences Management L.P. increased its position in shares of Immatics by 17.5% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company’s stock valued at $15,457,000 after purchasing an additional 202,255 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Immatics by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock valued at $110,462,000 after purchasing an additional 144,549 shares during the last quarter. Finally, abrdn plc grew its position in Immatics by 49.2% during the 4th quarter. abrdn plc now owns 347,379 shares of the company’s stock worth $2,470,000 after acquiring an additional 114,479 shares during the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IMTX. Bank of America reduced their price target 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 upgraded Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Immatics presently has a consensus rating of “Buy” and a consensus price target of $16.67.

Immatics Stock Up 2.6 %

IMTX opened at $5.11 on Wednesday. The stock has a market cap of $609.91 million, a PE ratio of -7.74 and a beta of 0.83. The business has a 50 day moving average of $5.16 and a 200-day moving average of $7.80. Immatics has a 52 week low of $4.06 and a 52 week high of $13.77.

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.