Immatics (NASDAQ:IMTX) Short Interest Up 6.4% in November

Immatics (NASDAQ:IMTX) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 8,190,000 shares, a growth of 6.4% from the November 15th total of 7,700,000 shares. Based on an average daily volume of 596,800 shares, the short-interest ratio is currently 13.7 days.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Bank of America decreased their price objective on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a report on Thursday, September 5th. The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a research note on Monday, November 25th. Finally, Piper Sandler began coverage on shares of Immatics in a research note on Monday, October 7th. They issued an “overweight” rating and a $19.00 price objective for the company. Four research 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 currently has an average rating of “Buy” and a consensus price target of $16.67.

Institutional Trading of Immatics

Hedge funds have recently bought and sold shares of the business. AlphaCentric Advisors LLC grew its position in 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. TD Asset Management Inc lifted its position in Immatics by 11.8% in the second quarter. TD Asset Management Inc now owns 357,526 shares of the company’s stock valued at $4,154,000 after buying an additional 37,770 shares during the last quarter. XTX Topco Ltd purchased a new position in Immatics during the second quarter worth about $321,000. HighVista Strategies LLC acquired a new stake in shares of Immatics during the second quarter valued at about $904,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Immatics in the 2nd quarter valued at approximately $2,404,000. Institutional investors and hedge funds own 64.41% of the company’s stock.

Immatics Stock Up 0.8 %

Shares of NASDAQ IMTX opened at $7.27 on Tuesday. The firm has a market cap of $867.72 million, a price-to-earnings ratio of -11.02 and a beta of 0.74. The company’s 50-day simple moving average is $8.68 and its 200-day simple moving average is $10.79. Immatics has a 52-week low of $6.99 and a 52-week high of $13.77.

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.