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

Immatics (NASDAQ:IMTX) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 7,700,000 shares, an increase of 15.1% from the October 31st total of 6,690,000 shares. Based on an average daily volume of 599,700 shares, the days-to-cover ratio is presently 12.8 days.

Immatics Stock Performance

Shares of NASDAQ IMTX remained flat at $8.32 during trading hours on Monday. The company had a trading volume of 808,112 shares, compared to its average volume of 502,099. The company has a market capitalization of $993.04 million, a P/E ratio of -12.61 and a beta of 0.78. Immatics has a twelve month low of $7.46 and a twelve month high of $13.77. The stock has a fifty day moving average price of $9.47 and a two-hundred day moving average price of $11.05.

Hedge Funds Weigh In On Immatics

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in shares of Immatics by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock valued at $110,462,000 after acquiring an additional 144,549 shares in the last quarter. Perceptive Advisors LLC lifted its stake in Immatics by 76.5% during the second quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock worth $93,961,000 after purchasing an additional 3,503,750 shares during the period. Vestal Point Capital LP boosted 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 in the last quarter. Braidwell LP acquired a new stake in Immatics during the third quarter valued at approximately $18,799,000. Finally, Frazier Life Sciences Management L.P. grew its stake in shares of Immatics by 17.5% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company’s stock valued at $15,457,000 after purchasing an additional 202,255 shares during the period. Institutional investors and hedge funds own 64.41% of the company’s stock.

Wall Street Analysts Forecast Growth

IMTX has been the subject of several research reports. Bank of America reduced their price objective on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Piper Sandler initiated coverage on shares of Immatics in a research report on Monday, October 7th. They issued an “overweight” rating and a $19.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a report on Thursday, September 5th. Finally, The Goldman Sachs Group upgraded shares of Immatics to a “strong-buy” rating in a research note on Monday, November 25th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus 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.