Y Intercept Hong Kong Ltd Buys New Position in Immatics (NASDAQ:IMTX)

Y Intercept Hong Kong Ltd bought a new stake in shares of Immatics (NASDAQ:IMTX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,624 shares of the company’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Immatics during the third quarter valued at approximately $114,000. Quarry LP raised its holdings in shares of 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 acquiring an additional 2,500 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Immatics during the third quarter valued at approximately $298,000. The Manufacturers Life Insurance Company raised its holdings in shares of 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. Finally, abrdn plc raised its holdings in shares of Immatics by 49.2% during the fourth quarter. abrdn plc now owns 347,379 shares of the company’s stock valued at $2,470,000 after acquiring an additional 114,479 shares in the last quarter. Institutional investors own 64.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on IMTX shares. Bank of America decreased their price objective on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a report on Monday, November 25th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $16.67.

Immatics Trading Up 10.6 %

IMTX opened at $4.80 on Thursday. The stock has a fifty day simple moving average of $5.60 and a two-hundred day simple moving average of $8.24. The company has a market cap of $572.91 million, a price-to-earnings ratio of -7.27 and a beta of 0.83. Immatics has a 12-month low of $4.06 and a 12-month high of $13.77.

Immatics 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.