Immatics (NASDAQ:IMTX) Sees Significant Increase in Short Interest

Immatics (NASDAQ:IMTX - Get Free Report) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 8,190,000 shares, a growth of 6.4% from the November 15th total of 7,700,000 shares. Based on an average daily volume of 596,800 shares, the short-interest ratio is presently 13.7 days.

Institutional Trading of Immatics

A number of large investors have recently made changes to their positions in IMTX. 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. Wellington Management Group LLP increased its holdings in shares of Immatics by 1.5% in the 3rd quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company's stock valued at $110,462,000 after acquiring an additional 144,549 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Immatics during the 3rd quarter worth about $114,000. State Street Corp lifted its stake in Immatics by 11.2% during the third quarter. State Street Corp now owns 225,202 shares of the company's stock worth $2,570,000 after purchasing an additional 22,710 shares during the last quarter. Finally, Quarry LP boosted its holdings in Immatics by 29.4% in the third quarter. Quarry LP now owns 11,000 shares of the company's stock valued at $126,000 after purchasing an additional 2,500 shares in the last quarter. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IMTX. The Goldman Sachs Group raised Immatics to a "strong-buy" rating in a research note on Monday, November 25th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Immatics in a research note on Thursday, September 5th. Piper Sandler began 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 shares of Immatics from $16.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, November 19th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $16.67.

Immatics Stock Down 1.2 %

NASDAQ IMTX traded down $0.09 during trading hours on Tuesday, hitting $7.18. 313,348 shares of the company were exchanged, compared to its average volume of 499,447. The firm has a market cap of $856.98 million, a price-to-earnings ratio of -11.02 and a beta of 0.74. The company has a 50 day moving average of $8.68 and a two-hundred day moving average of $10.79. Immatics has a 52-week low of $6.99 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.