Short Interest in Immatics (NASDAQ:IMTX) Declines By 11.9%

Immatics (NASDAQ:IMTX) was the recipient of a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 8,820,000 shares, a decrease of 11.9% from the January 31st total of 10,010,000 shares. Based on an average daily volume of 950,000 shares, the days-to-cover ratio is presently 9.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMTX. The Manufacturers Life Insurance Company lifted its holdings in shares of Immatics by 9.3% in the third quarter. The Manufacturers Life Insurance Company now owns 164,766 shares of the company’s stock valued at $1,880,000 after purchasing an additional 13,997 shares in the last quarter. Vestal Point Capital LP boosted its stake in shares of Immatics by 36.4% in the third quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock valued at $42,788,000 after buying an additional 1,000,000 shares during the period. Braidwell LP bought a new stake in Immatics during the third quarter worth $18,799,000. Wasatch Advisors LP boosted its holdings in shares of Immatics by 3.5% during the 3rd quarter. Wasatch Advisors LP now owns 872,511 shares of the company’s stock valued at $9,955,000 after acquiring an additional 29,239 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Immatics during the 3rd quarter valued at $298,000. 64.41% of the stock is currently owned by institutional investors.

Immatics Trading Down 2.9 %

IMTX stock opened at $4.66 on Friday. The business’s 50-day moving average price is $5.50 and its two-hundred day moving average price is $8.17. The firm has a market cap of $556.20 million, a PE ratio of -7.06 and a beta of 0.83. Immatics has a 1-year low of $4.06 and a 1-year high of $13.77.

Analysts Set New Price Targets

Several brokerages recently weighed in on IMTX. The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a research note on Monday, November 25th. Bank of America lowered their target price on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $16.67.

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.