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

Immatics (NASDAQ:IMTX) was upgraded by research analysts at The Goldman Sachs Group to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Piper Sandler assumed coverage on Immatics in a research report on Monday, October 7th. They issued an “overweight” rating and a $19.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a report on Thursday, September 5th. Finally, 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. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $16.67.

Immatics Stock Up 1.4 %

Shares of Immatics stock opened at $7.91 on Monday. The stock’s fifty day moving average is $9.63 and its two-hundred day moving average is $11.09. The company has a market capitalization of $944.14 million, a PE ratio of -11.98 and a beta of 0.78. Immatics has a 52 week low of $7.46 and a 52 week high of $13.77.

Institutional Investors Weigh In On Immatics

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake 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 worth $110,462,000 after purchasing an additional 144,549 shares during the last quarter. Perceptive Advisors LLC lifted its stake in shares of Immatics by 76.5% during the 2nd 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 last quarter. Vestal Point Capital LP lifted its stake in shares of Immatics by 36.4% during the 3rd quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock worth $42,788,000 after purchasing an additional 1,000,000 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Immatics by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,225,360 shares of the company’s stock worth $33,899,000 after purchasing an additional 891,191 shares during the last quarter. Finally, Braidwell LP purchased a new stake in shares of Immatics during the 3rd quarter worth $18,799,000. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

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.