Short Interest in Immatics (NASDAQ:IMTX) Expands By 5.3%

Immatics (NASDAQ:IMTX - Get Free Report) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 10,020,000 shares, a growth of 5.3% from the September 30th total of 9,520,000 shares. Based on an average daily trading volume, of 487,400 shares, the days-to-cover ratio is presently 20.6 days.

Wall Street Analysts Forecast Growth

IMTX has been the subject of a number of recent analyst reports. Piper Sandler initiated coverage on Immatics in a report on Monday, October 7th. They issued an "overweight" rating and a $19.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating on shares of Immatics in a research report on Thursday, September 5th.

Institutional Investors Weigh In On Immatics

A number of large investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Immatics in the second quarter valued at $99,000. Forefront Analytics LLC acquired a new stake in shares of Immatics during the 2nd quarter worth about $139,000. Nan Fung Group Holdings Ltd purchased a new stake in shares of Immatics during the first quarter worth about $165,000. AlphaCentric Advisors LLC raised its position in shares of Immatics by 14.3% in the second quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company's stock valued at $232,000 after buying an additional 2,500 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of Immatics during the second quarter valued at approximately $242,000. Institutional investors and hedge funds own 64.41% of the company's stock.

Immatics Trading Down 1.4 %

Shares of IMTX stock traded down $0.13 during mid-day trading on Thursday, reaching $9.10. The stock had a trading volume of 399,143 shares, compared to its average volume of 489,970. The company has a market cap of $1.09 billion, a P/E ratio of -10.16 and a beta of 0.75. Immatics has a 12-month low of $7.15 and a 12-month high of $13.77. The business has a 50-day simple moving average of $10.89 and a 200 day simple moving average of $11.36.

Immatics (NASDAQ:IMTX - Get Free Report) last posted its earnings results on Tuesday, August 13th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.17. The firm had revenue of $20.19 million during the quarter, compared to the consensus estimate of $12.36 million. Immatics had a negative net margin of 103.99% and a negative return on equity of 23.34%. Research analysts anticipate that Immatics will post -0.94 EPS for the current year.

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.