Immatics (NASDAQ:IMTX) Sees Significant Increase in Short Interest

Immatics (NASDAQ:IMTX) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 9,570,000 shares, an increase of 13.1% from the December 15th total of 8,460,000 shares. Based on an average daily trading volume, of 772,000 shares, the days-to-cover ratio is currently 12.4 days.

Institutional Trading of Immatics

Institutional investors have recently made changes to their positions in the business. Quarry LP lifted its holdings in Immatics by 29.4% in the 3rd quarter. Quarry LP now owns 11,000 shares of the company’s stock worth $126,000 after purchasing an additional 2,500 shares in the last quarter. AlphaCentric Advisors LLC raised its position in shares of Immatics by 25.0% during the third quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock valued at $285,000 after buying an additional 5,000 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Immatics in the third quarter worth $114,000. Forefront Analytics LLC bought a new position in shares of Immatics during the second quarter worth $139,000. Finally, The Manufacturers Life Insurance Company grew its stake in Immatics by 9.3% during the third quarter. The Manufacturers Life Insurance Company now owns 164,766 shares of the company’s stock valued at $1,880,000 after acquiring an additional 13,997 shares in the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Wall Street Analysts Forecast Growth

IMTX has been the subject of a number of research analyst reports. Bank of America cut their target price on shares of Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a report on Monday, November 25th. Finally, Piper Sandler assumed coverage on Immatics in a research note on Monday, October 7th. They issued an “overweight” rating and a $19.00 price objective on the stock. 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 0.2 %

IMTX stock traded up $0.01 during trading on Friday, reaching $5.35. The company’s stock had a trading volume of 1,060,755 shares, compared to its average volume of 836,641. The company’s fifty day moving average is $7.35 and its 200-day moving average is $9.85. The company has a market capitalization of $638.58 million, a P/E ratio of -8.11 and a beta of 0.77. Immatics has a 1 year low of $5.28 and a 1 year high of $13.77.

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.