Immatics (NASDAQ:IMTX) Trading Up 7.3% – Time to Buy?

Immatics (NASDAQ:IMTX) shares shot up 7.3% on Monday . The company traded as high as $4.85 and last traded at $4.88. 302,706 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 588,042 shares. The stock had previously closed at $4.55.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IMTX. Bank of America dropped their target price on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a report on Monday, November 25th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $16.67.

Immatics Price Performance

The business has a fifty day moving average of $5.16 and a 200 day moving average of $7.80. The stock has a market cap of $609.91 million, a price-to-earnings ratio of -7.74 and a beta of 0.83.

Hedge Funds Weigh In On Immatics

A number of hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in Immatics by 9.3% during the third quarter. The Manufacturers Life Insurance Company now owns 164,766 shares of the company’s stock valued at $1,880,000 after purchasing an additional 13,997 shares during the last quarter. Vestal Point Capital LP grew its holdings in Immatics by 36.4% during the third quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock valued at $42,788,000 after purchasing an additional 1,000,000 shares during the last quarter. Braidwell LP acquired a new position in Immatics during the third quarter valued at approximately $18,799,000. Wasatch Advisors LP grew its holdings in Immatics by 3.5% during the third quarter. Wasatch Advisors LP now owns 872,511 shares of the company’s stock valued at $9,955,000 after purchasing an additional 29,239 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Immatics during the third quarter valued at approximately $298,000. Institutional investors and hedge funds own 64.41% of the company’s stock.

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.