Bank of America Cuts Immatics (NASDAQ:IMTX) Price Target to $15.00

Immatics (NASDAQ:IMTX) had its target price trimmed by Bank of America from $16.00 to $15.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a research note on Thursday, September 5th. Piper Sandler initiated coverage on Immatics in a report on Monday, October 7th. They issued an “overweight” rating and a $19.00 price objective for the company.

Immatics Trading Down 2.4 %

Shares of IMTX stock opened at $7.61 on Tuesday. The firm has a fifty day simple moving average of $10.00 and a 200-day simple moving average of $11.17. The company has a market capitalization of $908.33 million, a PE ratio of -11.53 and a beta of 0.78. Immatics has a twelve month low of $7.46 and a twelve month high of $13.77.

Institutional Trading of Immatics

Several hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in Immatics in the second quarter valued at $99,000. Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Immatics during the third quarter worth about $114,000. Forefront Analytics LLC acquired a new stake in shares of Immatics in the 2nd quarter worth about $139,000. Nan Fung Group Holdings Ltd bought a new stake in Immatics in the 1st quarter valued at about $165,000. Finally, AlphaCentric Advisors LLC boosted its stake in Immatics by 14.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock valued at $232,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 64.41% of the company’s stock.

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.