Immatics (NASDAQ:IMTX) Upgraded by The Goldman Sachs Group to "Strong-Buy" Rating

The Goldman Sachs Group upgraded shares of Immatics (NASDAQ:IMTX - Free Report) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

A number of other research firms have also recently commented on IMTX. Piper Sandler initiated coverage on Immatics in a research report on Monday, October 7th. They set an "overweight" rating and a $19.00 target price on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of Immatics in a research report on Thursday, September 5th. Finally, Bank of America decreased their target price on Immatics from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, November 19th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $16.67.

Immatics Stock Performance

NASDAQ IMTX traded up $0.11 during mid-day trading on Monday, reaching $7.91. 432,643 shares of the stock were exchanged, compared to its average volume of 501,767. The company has a market capitalization of $944.11 million, a P/E ratio of -11.98 and a beta of 0.78. The business's 50 day moving average is $9.63 and its 200-day moving average is $11.09. Immatics has a 1 year low of $7.46 and a 1 year high of $13.77.

Institutional Trading of Immatics

Institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Immatics by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,225,360 shares of the company's stock worth $33,899,000 after buying an additional 891,191 shares in the last quarter. HighVista Strategies LLC purchased a new stake in shares of Immatics in the second quarter valued at approximately $904,000. Frazier Life Sciences Management L.P. acquired a new stake in shares of Immatics in the second quarter valued at approximately $13,392,000. abrdn plc purchased a new position in Immatics during the third quarter worth approximately $2,657,000. Finally, Perceptive Advisors LLC boosted its stake in Immatics by 76.5% during the second quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company's stock worth $93,961,000 after buying an additional 3,503,750 shares during the last quarter. 64.41% of the stock is owned by institutional investors and hedge funds.

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.