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

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IMTX. Texas Capital Bank Wealth Management Services Inc bought a new stake in Immatics in the third quarter valued at approximately $114,000. Quarry LP raised its position in Immatics by 29.4% in the 3rd quarter. Quarry LP now owns 11,000 shares of the company’s stock valued at $126,000 after buying an additional 2,500 shares during the last quarter. Algert Global LLC purchased a new stake in Immatics in the 2nd quarter valued at $242,000. AlphaCentric Advisors LLC raised its position 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 during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Immatics in the 3rd quarter valued at $298,000. Institutional investors and hedge funds own 64.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IMTX shares. Bank of America dropped their target price on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Piper Sandler began coverage on Immatics in a report on Monday, October 7th. They set an “overweight” rating and a $19.00 target price for the company. Finally, The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a research note on Monday, November 25th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $16.67.

Immatics Trading Down 4.1 %

NASDAQ IMTX traded down $0.23 during trading on Monday, hitting $5.25. 165,251 shares of the company’s stock were exchanged, compared to its average volume of 1,211,476. The company has a market cap of $626.04 million, a PE ratio of -7.96 and a beta of 0.75. Immatics has a fifty-two week low of $5.21 and a fifty-two week high of $13.77. The stock’s 50 day moving average price is $6.81 and its two-hundred day moving average price is $9.35.

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.