Immatics (NASDAQ:IMTX) Upgraded by The Goldman Sachs Group to Strong-Buy Rating

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

Other equities analysts also recently issued reports about the stock. Bank of America lowered their price objective on shares of Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th. Finally, Piper Sandler assumed coverage on Immatics in a report on Monday, October 7th. They issued an “overweight” rating and a $19.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $16.67.

Immatics Stock Up 1.4 %

Shares of NASDAQ IMTX opened at $7.91 on Monday. The firm’s fifty day moving average is $9.63 and its 200 day moving average is $11.09. Immatics has a 52 week low of $7.46 and a 52 week high of $13.77. The company has a market cap of $944.11 million, a price-to-earnings ratio of -11.98 and a beta of 0.78.

Hedge Funds Weigh In On Immatics

Several hedge funds and other institutional investors have recently modified their holdings of IMTX. Price T Rowe Associates Inc. MD lifted its holdings in Immatics by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,225,360 shares of the company’s stock worth $33,899,000 after buying an additional 891,191 shares during the period. AlphaCentric Advisors LLC lifted its stake in shares of Immatics by 14.3% in 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. TD Asset Management Inc boosted its position in shares of Immatics by 11.8% during the second quarter. TD Asset Management Inc now owns 357,526 shares of the company’s stock valued at $4,154,000 after purchasing an additional 37,770 shares in the last quarter. XTX Topco Ltd purchased a new stake in Immatics in the second quarter worth $321,000. Finally, HighVista Strategies LLC bought a new position in Immatics in the second quarter worth $904,000. Hedge funds and other 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.