Immatics (NASDAQ:IMTX) Sees Strong Trading Volume – Here’s What Happened

Immatics (NASDAQ:IMTX) shares saw strong trading volume on Tuesday . 325,746 shares were traded during trading, a decline of 35% from the previous session’s volume of 498,995 shares.The stock last traded at $7.51 and had previously closed at $7.59.

Analyst Upgrades and Downgrades

Several analysts have weighed in on IMTX shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a research note on Thursday, September 5th. Piper Sandler began coverage on shares of Immatics in a research report on Monday, October 7th. They issued an “overweight” rating and a $19.00 price objective for the company. Finally, Bank of America decreased their target price on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th.

Immatics Stock Up 4.5 %

The firm has a market capitalization of $946.52 million, a price-to-earnings ratio of -11.50 and a beta of 0.78. The stock’s 50-day moving average price is $9.80 and its 200 day moving average price is $11.13.

Institutional Investors Weigh In On Immatics

A number of large investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in Immatics during the second quarter worth $99,000. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Immatics during the 3rd quarter valued at about $114,000. Forefront Analytics LLC acquired a new position in shares of Immatics during the 2nd quarter valued at about $139,000. AlphaCentric Advisors LLC increased its position in Immatics by 14.3% during the second quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock worth $232,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in Immatics during the second quarter worth about $242,000. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

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.