Immatics (NASDAQ:IMTX) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Immatics (NASDAQ:IMTX – Get Rating) from a buy rating to a hold rating in a report released on Friday morning, Zacks.com reports.

According to Zacks, “Immatics N.V. engages in the discovery of targets for cancer immunotherapies. It is developing targeted immunotherapies with focus on treating solid tumors. Immatics N.V., formerly known as ARYA SCIENCES, is based in Tuebingen, Germany. “

Separately, SVB Leerink decreased their price target on shares of Immatics from $32.00 to $25.00 and set an outperform rating for the company in a research report on Thursday, March 24th.

IMTX stock opened at $9.37 on Friday. The firm has a market cap of $589.46 million, a P/E ratio of -5.58 and a beta of 0.39. The business’s fifty day moving average price is $8.21. Immatics has a 52 week low of $6.48 and a 52 week high of $16.30.

A number of institutional investors have recently made changes to their positions in the stock. UBS Group AG boosted its position in Immatics by 69.6% during the 3rd quarter. UBS Group AG now owns 3,100 shares of the company’s stock worth $40,000 after purchasing an additional 1,272 shares during the period. Geode Capital Management LLC boosted its position in Immatics by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 50,906 shares of the company’s stock valued at $684,000 after buying an additional 1,458 shares during the last quarter. Marshall Wace LLP purchased a new position in Immatics in the 4th quarter valued at about $41,000. Morgan Stanley boosted its position in Immatics by 161.1% in the 3rd quarter. Morgan Stanley now owns 12,102 shares of the company’s stock valued at $157,000 after buying an additional 7,467 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Immatics by 27.8% in the 4th quarter. Bank of America Corp DE now owns 36,592 shares of the company’s stock valued at $491,000 after buying an additional 7,952 shares during the last quarter. 35.71% of the stock is owned by hedge funds and other institutional investors.

About Immatics (Get Rating)

Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the discovery and development of T cell receptor (TCR) based 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 therapeutic modalities, such as adoptive cell therapies (ACT) and antibody-like TCR Bispecifics.

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