Immatics (NASDAQ:IMTX) Trading 7.3% Higher – Should You Buy?

Immatics (NASDAQ:IMTX)’s share price rose 7.3% during mid-day trading on Monday . The company traded as high as $4.85 and last traded at $4.88. Approximately 302,706 shares traded hands during trading, a decline of 49% from the average daily volume of 588,042 shares. The stock had previously closed at $4.55.

Analysts Set New Price Targets

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

Immatics Stock Up 8.7 %

The stock has a market capitalization of $590.22 million, a PE ratio of -7.51 and a beta of 0.83. The firm has a 50 day moving average price of $5.24 and a 200 day moving average price of $7.89.

Institutional Trading of Immatics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. boosted its holdings in Immatics by 58.6% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,147,911 shares of the company’s stock worth $15,272,000 after purchasing an additional 793,200 shares during the last quarter. Zimmer Partners LP boosted its stake in shares of Immatics by 44.6% in the 4th quarter. Zimmer Partners LP now owns 405,000 shares of the company’s stock worth $2,880,000 after buying an additional 125,000 shares during the last quarter. Vestal Point Capital LP grew its holdings in shares of Immatics by 67.3% in the fourth quarter. Vestal Point Capital LP now owns 6,275,000 shares of the company’s stock valued at $44,615,000 after acquiring an additional 2,525,000 shares in the last quarter. Suvretta Capital Management LLC purchased a new stake in shares of Immatics during the fourth quarter valued at approximately $36,014,000. Finally, Sphera Funds Management LTD. lifted its holdings in Immatics by 27.7% during the fourth quarter. Sphera Funds Management LTD. now owns 921,111 shares of the company’s stock worth $6,549,000 after acquiring an additional 200,000 shares during the period. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Immatics Company 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.