Immatics (NASDAQ:IMTX) Shares Gap Up – Here’s What Happened

Immatics (NASDAQ:IMTX)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $4.53, but opened at $4.82. Immatics shares last traded at $4.74, with a volume of 256,808 shares traded.

Immatics Stock Performance

The stock has a market cap of $580.67 million, a P/E ratio of -7.22 and a beta of 0.83. The stock has a fifty day simple moving average of $4.99 and a 200-day simple moving average of $7.56.

Hedge Funds Weigh In On Immatics

Several hedge funds and other institutional investors have recently made changes to their positions in IMTX. The Manufacturers Life Insurance Company raised its holdings in Immatics by 9.3% in the 3rd 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 during the period. Vestal Point Capital LP raised its stake in Immatics by 36.4% during the third quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock worth $42,788,000 after acquiring an additional 1,000,000 shares in the last quarter. Braidwell LP acquired a new stake in Immatics in the third quarter valued at approximately $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. bought a new stake in shares of Immatics during the third quarter worth about $298,000. 64.41% of the stock is owned by institutional investors.

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.