Immatics (NASDAQ:IMTX) Short Interest Update

Immatics (NASDAQ:IMTX - Get Free Report) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 6,860,000 shares, a decline of 20.7% from the March 15th total of 8,650,000 shares. Currently, 5.9% of the shares of the stock are short sold. Based on an average daily volume of 997,400 shares, the days-to-cover ratio is currently 6.9 days.

Hedge Funds Weigh In On Immatics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC raised its holdings in Immatics by 94.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 25,580 shares of the company's stock worth $115,000 after purchasing an additional 12,425 shares during the last quarter. Intellectus Partners LLC acquired a new position in Immatics in the first quarter valued at $70,000. Wellington Management Group LLP lifted its holdings in Immatics by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 10,417,892 shares of the company's stock valued at $74,071,000 after buying an additional 736,709 shares during the period. Frazier Life Sciences Management L.P. boosted its position in Immatics by 58.6% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,147,911 shares of the company's stock valued at $15,272,000 after acquiring an additional 793,200 shares during the last quarter. Finally, Zimmer Partners LP grew its holdings in Immatics by 44.6% during the 4th quarter. Zimmer Partners LP now owns 405,000 shares of the company's stock worth $2,880,000 after acquiring an additional 125,000 shares during the period. 64.41% of the stock is owned by institutional investors and hedge funds.

Immatics Trading Up 0.5 %

IMTX traded up $0.02 during trading on Tuesday, reaching $4.26. 186,296 shares of the company's stock were exchanged, compared to its average volume of 650,723. Immatics has a one year low of $3.30 and a one year high of $13.77. The firm has a fifty day moving average price of $4.46 and a two-hundred day moving average price of $6.49. The stock has a market capitalization of $517.80 million, a PE ratio of -6.42 and a beta of 0.85.

Immatics (NASDAQ:IMTX - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.51. The business had revenue of $15.67 million during the quarter, compared to the consensus estimate of $16.16 million. Immatics had a negative return on equity of 15.90% and a negative net margin of 47.94%. Sell-side analysts expect that Immatics will post -0.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immatics in a research note on Tuesday, April 1st. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $16.67.

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.