Immatics (NASDAQ:IMTX) Trading Up 7.3% – Here’s What Happened

Immatics (NASDAQ:IMTX) shares were up 7.3% on Monday . The stock traded as high as $4.85 and last traded at $4.88. Approximately 302,706 shares were traded during trading, a decline of 49% from the average daily volume of 588,042 shares. The stock had previously closed at $4.55.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group raised shares of Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Bank of America dropped their price objective on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $16.67.

Immatics Price Performance

The stock has a market cap of $590.22 million, a PE ratio of -7.51 and a beta of 0.83. The firm’s 50 day moving average price is $5.24 and its two-hundred day moving average price is $7.89.

Institutional Investors Weigh In On Immatics

A number of hedge funds and other institutional investors have recently bought and sold shares of IMTX. T. Rowe Price Investment Management Inc. grew its position in shares of Immatics by 43.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,604,777 shares of the company’s stock valued at $75,400,000 after purchasing an additional 3,225,141 shares in the last quarter. Wellington Management Group LLP boosted its stake in Immatics by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 10,417,892 shares of the company’s stock worth $74,071,000 after purchasing an additional 736,709 shares during the period. Baker BROS. Advisors LP grew its holdings in Immatics by 12.9% during the 4th quarter. Baker BROS. Advisors LP now owns 7,275,830 shares of the company’s stock valued at $51,731,000 after buying an additional 832,432 shares in the last quarter. Vestal Point Capital LP increased its position in shares of Immatics by 67.3% during the fourth quarter. Vestal Point Capital LP now owns 6,275,000 shares of the company’s stock valued at $44,615,000 after buying an additional 2,525,000 shares during the period. Finally, Paradigm Biocapital Advisors LP lifted its holdings in shares of Immatics by 38.7% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company’s stock worth $38,496,000 after buying an additional 1,509,547 shares in the last quarter. Institutional investors own 64.41% of the company’s stock.

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.