Immatics (NASDAQ:IMTX) Upgraded by The Goldman Sachs Group to “Strong-Buy” Rating

Immatics (NASDAQ:IMTX) was upgraded by analysts at The Goldman Sachs Group to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other research analysts have also issued reports on IMTX. Bank of America reduced their target price on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Piper Sandler started coverage on Immatics in a research report on Monday, October 7th. They set an “overweight” rating and a $19.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $16.67.

Immatics Price Performance

Shares of NASDAQ:IMTX opened at $7.91 on Monday. The business’s 50-day moving average is $9.63 and its 200 day moving average is $11.09. Immatics has a 1 year low of $7.46 and a 1 year high of $13.77. The firm has a market capitalization of $944.14 million, a P/E ratio of -11.98 and a beta of 0.78.

Institutional Trading of Immatics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Frazier Life Sciences Management L.P. lifted its position in Immatics by 17.5% during the third quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company’s stock valued at $15,457,000 after purchasing an additional 202,255 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Immatics by 1.5% in the 3rd quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock valued at $110,462,000 after buying an additional 144,549 shares during the period. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Immatics in the 3rd quarter valued at about $114,000. State Street Corp boosted its stake in shares of Immatics by 11.2% in the third quarter. State Street Corp now owns 225,202 shares of the company’s stock worth $2,570,000 after buying an additional 22,710 shares during the last quarter. Finally, Quarry LP grew its holdings in Immatics by 29.4% during the third quarter. Quarry LP now owns 11,000 shares of the company’s stock worth $126,000 after acquiring an additional 2,500 shares during the period. Institutional investors and hedge funds own 64.41% of the company’s stock.

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.