Immatics (NASDAQ:IMTX) Stock Price Up 6.7% After Analyst Upgrade

Immatics N.V. (NASDAQ:IMTX) shares traded up 6.7% during mid-day trading on Tuesday after Guggenheim raised their price target on the stock from $16.00 to $19.00. Guggenheim currently has a buy rating on the stock. Immatics traded as high as $10.13 and last traded at $10.1070. 346,068 shares were traded during mid-day trading, a decline of 56% from the average session volume of 793,910 shares. The stock had previously closed at $9.47.

A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a research note on Wednesday, October 8th. Mizuho set a $19.00 price target on shares of Immatics in a research report on Wednesday, October 29th. Finally, Zacks Research upgraded shares of Immatics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Institutional Investors Weigh In On Immatics

Several hedge funds have recently modified their holdings of IMTX. Bank of America Corp DE increased its stake in Immatics by 166.0% in the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after purchasing an additional 2,231 shares during the last quarter. XTX Topco Ltd purchased a new stake in Immatics in the 1st quarter valued at about $573,000. Russell Investments Group Ltd. acquired a new position in shares of Immatics during the 1st quarter valued at about $430,000. Aberdeen Group plc lifted its holdings in shares of Immatics by 107.1% during the 1st quarter. Aberdeen Group plc now owns 719,586 shares of the company’s stock worth $3,245,000 after acquiring an additional 372,207 shares during the period. Finally, Algert Global LLC boosted its position in shares of Immatics by 20.6% in the first quarter. Algert Global LLC now owns 70,668 shares of the company’s stock worth $319,000 after acquiring an additional 12,072 shares during the last quarter. 64.41% of the stock is owned by institutional investors and hedge funds.

Immatics Stock Up 9.0%

The business’s fifty day moving average is $8.97 and its 200-day moving average is $6.85. The stock has a market capitalization of $1.25 billion, a PE ratio of -10.12 and a beta of 1.24.

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.