Immatics (NASDAQ:IMTX) Sees Strong Trading Volume – Time to Buy?

Immatics (NASDAQ:IMTX) saw an uptick in trading volume on Thursday . 1,005,206 shares were traded during trading, an increase of 70% from the previous session’s volume of 590,925 shares.The stock last traded at $5.36 and had previously closed at $5.37.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a research note on Monday, November 25th. 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 stock presently has a consensus rating of “Buy” and a consensus price target of $16.67.

Immatics Trading Down 5.7 %

The business has a fifty day moving average of $5.06 and a two-hundred day moving average of $7.72. The company has a market cap of $596.78 million, a price-to-earnings ratio of -7.58 and a beta of 0.83.

Institutional Investors Weigh In On Immatics

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