Immatics (NASDAQ:IMTX) Stock Rating Upgraded by The Goldman Sachs Group

Immatics (NASDAQ:IMTX) was upgraded by investment analysts at The Goldman Sachs Group to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th. Piper Sandler started coverage on shares of Immatics in a research report on Monday, October 7th. They set an “overweight” rating and a $19.00 target price on the stock. Finally, Bank of America reduced their price target on shares of Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Immatics presently has an average rating of “Buy” and a consensus price target of $16.67.

Immatics Price Performance

Shares of IMTX opened at $7.91 on Monday. Immatics has a 1-year low of $7.46 and a 1-year high of $13.77. The stock has a market cap of $944.11 million, a PE ratio of -11.98 and a beta of 0.78. The firm has a fifty day moving average price of $9.63 and a 200 day moving average price of $11.09.

Institutional Investors Weigh In On Immatics

Several large investors have recently modified their holdings of IMTX. Quarry LP purchased a new position in Immatics in the 2nd quarter valued at $99,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Immatics in the third quarter valued at about $114,000. Forefront Analytics LLC acquired a new position in shares of Immatics during the second quarter worth about $139,000. AlphaCentric Advisors LLC increased its stake in shares of Immatics by 14.3% during the second quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock worth $232,000 after acquiring an additional 2,500 shares during the period. Finally, Algert Global LLC purchased a new position in Immatics during the second quarter worth about $242,000. 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.