Immatics (NASDAQ:IMTX) Sees Strong Trading Volume – Time to Buy?

Immatics (NASDAQ:IMTX) saw an uptick in trading volume on Thursday . 1,005,206 shares were traded during trading, an increase of 70% from the previous session’s volume of 590,925 shares.The stock last traded at $5.36 and had previously closed at $5.37.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a report on Monday, November 25th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $16.67.

Immatics Stock Performance

The stock has a fifty day moving average of $5.06 and a 200-day moving average of $7.72. The company has a market cap of $596.78 million, a PE ratio of -7.58 and a beta of 0.83.

Institutional Investors Weigh In On Immatics

A number of institutional investors and hedge funds have recently bought and sold shares of IMTX. Bank of America Corp DE raised its position in Immatics by 166.0% during the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after purchasing an additional 2,231 shares in the last quarter. Virtus ETF Advisers LLC raised its position in Immatics by 34.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock valued at $68,000 after purchasing an additional 2,479 shares in the last quarter. Guggenheim Capital LLC bought a new position in shares of Immatics in the 4th quarter worth $101,000. Forefront Analytics LLC raised its position in shares of Immatics by 42.3% in the 4th quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock worth $113,000 after acquiring an additional 4,731 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new position in Immatics during the 3rd quarter worth $114,000. 64.41% of the stock is owned by institutional investors.

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.