Short Interest in Immatics (NASDAQ:IMTX) Expands By 15.1%

Immatics (NASDAQ:IMTX) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 7,700,000 shares, an increase of 15.1% from the October 31st total of 6,690,000 shares. Based on an average daily volume of 599,700 shares, the days-to-cover ratio is currently 12.8 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IMTX. AlphaCentric Advisors LLC grew its holdings in shares of Immatics by 14.3% in the 2nd 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. Quarry LP grew its holdings in Immatics by 29.4% in the third quarter. Quarry LP now owns 11,000 shares of the company’s stock valued at $126,000 after purchasing an additional 2,500 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Immatics in the third quarter valued at $114,000. Forefront Analytics LLC acquired a new position in shares of Immatics during the 2nd quarter worth $139,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Immatics by 9.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 164,766 shares of the company’s stock worth $1,880,000 after buying an additional 13,997 shares in the last quarter. 64.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IMTX has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immatics in a research note on Thursday, September 5th. Bank of America cut their price target on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. The Goldman Sachs Group raised shares of Immatics to a “strong-buy” rating in a research note on Monday, November 25th. Finally, Piper Sandler assumed coverage on shares of Immatics in a research note on Monday, October 7th. They issued an “overweight” rating and a $19.00 target price for the company. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Immatics presently has a consensus rating of “Buy” and a consensus target price of $16.67.

Immatics Price Performance

Shares of IMTX stock opened at $8.32 on Tuesday. Immatics has a 1-year low of $7.46 and a 1-year high of $13.77. The business’s fifty day moving average price is $9.47 and its 200 day moving average price is $11.05.

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.