Immatics (NASDAQ:IMTX) Sees Unusually-High Trading Volume - Here's Why

Shares of Immatics (NASDAQ:IMTX - Get Free Report) saw an uptick in trading volume on Thursday . 1,005,206 shares were traded during trading, an increase of 70% from the previous session's volume of 590,925 shares.The stock last traded at $5.36 and had previously closed at $5.37.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised Immatics to a "strong-buy" rating in a report on Monday, November 25th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Immatics currently has an average rating of "Buy" and a consensus price target of $16.67.

Immatics Stock Performance

The stock has a 50 day moving average of $5.06 and a 200-day moving average of $7.68. The firm has a market capitalization of $588.43 million, a P/E ratio of -7.47 and a beta of 0.83.

Institutional Trading of Immatics

A number of hedge funds have recently made changes to their positions in IMTX. The Manufacturers Life Insurance Company raised its stake in shares of Immatics by 9.3% during the third quarter. The Manufacturers Life Insurance Company now owns 164,766 shares of the company's stock worth $1,880,000 after acquiring an additional 13,997 shares in the last quarter. Vestal Point Capital LP increased its holdings in shares of Immatics by 36.4% in the third quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company's stock worth $42,788,000 after buying an additional 1,000,000 shares during the period. Braidwell LP bought a new stake in shares of Immatics in the 3rd quarter valued at about $18,799,000. Wasatch Advisors LP boosted its holdings in Immatics by 3.5% during the 3rd quarter. Wasatch Advisors LP now owns 872,511 shares of the company's stock valued at $9,955,000 after acquiring an additional 29,239 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Immatics during the 3rd quarter worth approximately $298,000. 64.41% of the stock is owned by 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.