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

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IMTX. The Goldman Sachs Group upgraded Immatics to a “strong-buy” rating in a research note on Monday, November 25th. Bank of America dropped their price objective on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Finally, Piper Sandler initiated coverage on Immatics in a research note on Monday, October 7th. They set 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $16.67.

Hedge Funds Weigh In On Immatics

Institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in Immatics in the 2nd quarter valued at $2,404,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Immatics by 13.9% during the second quarter. The Manufacturers Life Insurance Company now owns 150,769 shares of the company’s stock worth $1,752,000 after buying an additional 18,354 shares in the last quarter. Algert Global LLC bought a new stake in shares of Immatics in the second quarter valued at about $242,000. abrdn plc acquired a new position in shares of Immatics in the third quarter valued at about $2,657,000. Finally, AlphaCentric Advisors LLC increased its position in Immatics by 25.0% during the third quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the company’s stock worth $285,000 after acquiring an additional 5,000 shares during the period. Institutional investors and hedge funds own 64.41% of the company’s stock.

Immatics Stock Performance

Shares of IMTX stock traded down $0.20 during midday trading on Monday, hitting $5.27. 820,913 shares of the company were exchanged, compared to its average volume of 1,243,722. The firm has a market capitalization of $629.03 million, a P/E ratio of -7.98 and a beta of 0.75. Immatics has a 52 week low of $5.20 and a 52 week high of $13.77. The firm’s 50 day moving average price is $6.81 and its two-hundred day moving average price is $9.35.

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.