Short Interest in Immatics (NASDAQ:IMTX) Expands By 15.1%

Immatics (NASDAQ:IMTX) saw a large increase in short interest in 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 trading volume of 599,700 shares, the short-interest ratio is currently 12.8 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Quarry LP purchased a new position in Immatics during the 2nd quarter worth approximately $99,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Immatics in the third quarter worth $114,000. Forefront Analytics LLC purchased a new position in shares of Immatics during the second quarter worth $139,000. AlphaCentric Advisors LLC lifted its position in Immatics by 14.3% during the second 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. Finally, Algert Global LLC purchased a new stake in Immatics in the second quarter valued at $242,000. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Piper Sandler assumed coverage on shares of Immatics in a research report on Monday, October 7th. They set an “overweight” rating and a $19.00 target price on the stock. Bank of America lowered their target price on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a research note on Thursday, September 5th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $16.67.

Immatics Stock Performance

IMTX stock traded up $0.41 during midday trading on Friday, reaching $8.32. The stock had a trading volume of 272,323 shares, compared to its average volume of 601,202. The firm has a fifty day simple moving average of $9.47 and a two-hundred day simple moving average of $11.05. Immatics has a 52-week low of $7.46 and a 52-week high of $13.77. The stock has a market cap of $993.04 million, a PE ratio of -12.61 and a beta of 0.78.

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.