Immatics (NASDAQ:IMTX) Short Interest Up 13.1% in December

Immatics (NASDAQ:IMTX) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 9,570,000 shares, a growth of 13.1% from the December 15th total of 8,460,000 shares. Based on an average daily trading volume, of 772,000 shares, the short-interest ratio is presently 12.4 days.

Immatics Price Performance

IMTX stock traded up $0.01 during trading on Friday, hitting $5.35. The stock had a trading volume of 1,060,755 shares, compared to its average volume of 836,641. Immatics has a twelve month low of $5.28 and a twelve month high of $13.77. The company’s 50-day moving average price is $7.35 and its two-hundred day moving average price is $9.84. The stock has a market capitalization of $638.58 million, a P/E ratio of -8.11 and a beta of 0.77.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Quarry LP increased its holdings in shares of 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. AlphaCentric Advisors LLC grew its holdings in Immatics by 25.0% in the 3rd quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock valued at $285,000 after buying an additional 5,000 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Immatics in the 3rd quarter worth $114,000. Forefront Analytics LLC purchased 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% during 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 last quarter. 64.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IMTX has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised shares of Immatics to a “strong-buy” rating in a report on Monday, November 25th. Piper Sandler initiated coverage on Immatics in a research note on Monday, October 7th. They issued an “overweight” rating and a $19.00 price target for the company. Finally, Bank of America lowered their price target on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Immatics presently has a consensus rating of “Buy” and a consensus price target 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.