Immatics (NASDAQ:IMTX) Shares Gap Up – Still a Buy?

Immatics (NASDAQ:IMTX)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $4.53, but opened at $4.82. Immatics shares last traded at $4.74, with a volume of 256,808 shares trading hands.

Immatics Stock Performance

The stock has a market capitalization of $580.67 million, a P/E ratio of -7.22 and a beta of 0.83. The business has a fifty day simple moving average of $4.99 and a 200-day simple moving average of $7.56.

Hedge Funds Weigh In On Immatics

Several institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its position in shares of 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 acquiring an additional 2,231 shares during the period. Virtus ETF Advisers LLC grew its holdings in Immatics by 34.8% during the fourth 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 during the period. Quarry LP grew its holdings in Immatics by 29.4% during the third quarter. Quarry LP now owns 11,000 shares of the company’s stock valued at $126,000 after purchasing an additional 2,500 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Immatics by 24.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,701 shares of the company’s stock worth $163,000 after buying an additional 4,477 shares during the last quarter. Finally, Forefront Analytics LLC raised its stake in shares of Immatics by 42.3% in the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock valued at $113,000 after buying an additional 4,731 shares during the period. 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.