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

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

Institutional Investors Weigh In On Immatics

Large investors have recently added to or reduced their stakes in the business. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Immatics in the 3rd quarter worth about $114,000. Quarry LP grew its holdings in shares of Immatics by 29.4% during the 3rd quarter. Quarry LP now owns 11,000 shares of the company's stock worth $126,000 after purchasing an additional 2,500 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Immatics in the fourth quarter worth $211,000. Algert Global LLC acquired a new stake in Immatics during the second quarter worth about $242,000. Finally, AlphaCentric Advisors LLC raised its position in shares of Immatics by 25.0% in the 3rd quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company's stock valued at $285,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 64.41% of the company's stock.

Immatics Trading Up 2.8 %

Shares of Immatics stock traded up $0.15 on Tuesday, reaching $5.42. 1,975,837 shares of the company were exchanged, compared to its average volume of 1,274,634. The company has a 50-day moving average of $6.77 and a 200 day moving average of $9.30. The company has a market capitalization of $646.93 million, a price-to-earnings ratio of -8.21 and a beta of 0.75. Immatics has a one year low of $5.20 and a one year high of $13.77.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IMTX. The Goldman Sachs Group upgraded Immatics to a "strong-buy" rating in a report on Monday, November 25th. Piper Sandler started coverage on shares of Immatics in a research note on Monday, October 7th. They issued an "overweight" rating and a $19.00 price objective for the company. Finally, Bank of America dropped their price objective on Immatics from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, November 19th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $16.67.

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.