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

Immatics (NASDAQ:IMTX) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 9,570,000 shares, a growth of 13.1% from the December 15th total of 8,460,000 shares. Based on an average trading volume of 772,000 shares, the days-to-cover ratio is presently 12.4 days.

Analyst Upgrades and Downgrades

IMTX has been the subject of several recent analyst reports. Bank of America cut their price objective on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Finally, Piper Sandler began coverage on shares of Immatics in a research report on Monday, October 7th. They set an “overweight” rating and a $19.00 price target on the stock. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $16.67.

Institutional Investors Weigh In On Immatics

Several institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Immatics in the second quarter valued at $99,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in Immatics during the 3rd quarter valued at about $114,000. Forefront Analytics LLC bought a new stake in Immatics during the second quarter worth about $139,000. Algert Global LLC purchased a new stake in Immatics in the second quarter worth about $242,000. Finally, AlphaCentric Advisors LLC increased its stake in shares of Immatics by 25.0% during the third quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock valued at $285,000 after purchasing an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Immatics Stock Performance

IMTX traded up $0.01 on Friday, hitting $5.35. 1,060,755 shares of the company were exchanged, compared to its average volume of 836,641. Immatics has a 12 month low of $5.28 and a 12 month high of $13.77. The firm has a fifty day simple moving average of $7.35 and a two-hundred day simple moving average of $9.85. The stock has a market capitalization of $638.58 million, a PE ratio of -8.11 and a beta of 0.77.

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.