The Goldman Sachs Group Upgrades Immatics (NASDAQ:IMTX) to Strong-Buy

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

A number of other equities research analysts have also recently commented on IMTX. Bank of America cut their target price on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th. Finally, Piper Sandler began coverage on shares of Immatics in a report on Monday, October 7th. They issued an “overweight” rating and a $19.00 target price for the company. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $16.67.

Immatics Stock Up 1.4 %

Immatics stock opened at $7.91 on Monday. Immatics has a twelve month low of $7.46 and a twelve month high of $13.77. The company has a market capitalization of $944.11 million, a P/E ratio of -11.98 and a beta of 0.78. The stock’s 50 day moving average is $9.63 and its 200 day moving average is $11.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IMTX. Quarry LP bought a new stake in Immatics in the 2nd quarter worth about $99,000. Texas Capital Bank Wealth Management Services Inc bought a new position in Immatics during the 3rd quarter valued at about $114,000. Forefront Analytics LLC purchased a new stake in shares of Immatics during the 2nd quarter valued at about $139,000. AlphaCentric Advisors LLC grew its stake in shares of Immatics by 14.3% in the second quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock worth $232,000 after acquiring an additional 2,500 shares during the period. Finally, Algert Global LLC purchased a new position in shares of Immatics during the second quarter valued at approximately $242,000. 64.41% of the stock is owned by institutional investors.

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.