Bank of America Has Lowered Expectations for Immatics (NASDAQ:IMTX) Stock Price

Immatics (NASDAQ:IMTX) had its price target decreased by research analysts at Bank of America from $16.00 to $15.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 92.31% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Piper Sandler initiated coverage on Immatics in a report on Monday, October 7th. They set an “overweight” rating and a $19.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th.

Immatics Trading Down 0.1 %

Immatics stock opened at $7.80 on Tuesday. Immatics has a 52 week low of $7.46 and a 52 week high of $13.77. The stock has a market cap of $930.98 million, a price-to-earnings ratio of -8.76 and a beta of 0.78. The company’s 50-day moving average price is $10.10 and its two-hundred day moving average price is $11.20.

Hedge Funds Weigh In On Immatics

A number of institutional investors have recently bought and sold shares of IMTX. Wellington Management Group LLP lifted its holdings in shares of Immatics by 1.5% in the third quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock valued at $110,462,000 after purchasing an additional 144,549 shares in the last quarter. Perceptive Advisors LLC lifted its position in shares of Immatics by 76.5% in the second quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock worth $93,961,000 after buying an additional 3,503,750 shares during the last quarter. Baker BROS. Advisors LP raised its stake in shares of Immatics by 10.4% in the 1st quarter. Baker BROS. Advisors LP now owns 6,443,398 shares of the company’s stock valued at $67,720,000 after acquiring an additional 604,545 shares in the last quarter. Vestal Point Capital LP lifted its holdings in Immatics by 36.4% in 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. Finally, Price T Rowe Associates Inc. MD boosted its position in Immatics by 38.2% during the first 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 period. Hedge funds and other 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.