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

Immatics (NASDAQ:IMTX) saw a large growth in short interest in the month of 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 days-to-cover ratio is presently 12.4 days.

Immatics Price Performance

Immatics stock traded down $0.23 during trading hours on Monday, reaching $5.25. The company had a trading volume of 165,251 shares, compared to its average volume of 1,211,476. The company has a 50-day moving average price of $6.81 and a 200 day moving average price of $9.35. The firm has a market cap of $626.04 million, a price-to-earnings ratio of -7.96 and a beta of 0.75. Immatics has a 12-month low of $5.21 and a 12-month high of $13.77.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Immatics

A number of large investors have recently bought and sold shares of the stock. abrdn plc grew its position in shares of Immatics by 49.2% in the 4th quarter. abrdn plc now owns 347,379 shares of the company’s stock worth $2,470,000 after buying an additional 114,479 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its position in shares of 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 in the last quarter. Wellington Management Group LLP boosted its position in shares of Immatics by 1.5% during the third quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock valued at $110,462,000 after purchasing an additional 144,549 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Immatics during the third quarter valued at approximately $114,000. Finally, State Street Corp boosted its position in shares of Immatics by 11.2% during the third quarter. State Street Corp now owns 225,202 shares of the company’s stock valued at $2,570,000 after purchasing an additional 22,710 shares in the last quarter. 64.41% of the stock is owned by hedge funds and other institutional investors.

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.