Immatics (NASDAQ:IMTX) Sees Large Decrease in Short Interest

Immatics (NASDAQ:IMTX) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 6,860,000 shares, a drop of 20.7% from the March 15th total of 8,650,000 shares. Approximately 5.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 997,400 shares, the days-to-cover ratio is presently 6.9 days.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a report on Tuesday, April 1st. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Immatics presently has an average rating of “Buy” and a consensus price target of $16.67.

Immatics Trading Up 3.6 %

IMTX stock traded up $0.15 during mid-day trading on Friday, reaching $4.26. The company’s stock had a trading volume of 205,139 shares, compared to its average volume of 653,576. The company’s 50 day moving average is $4.48 and its two-hundred day moving average is $6.56. Immatics has a fifty-two week low of $3.30 and a fifty-two week high of $13.77. The stock has a market cap of $517.80 million, a PE ratio of -6.45 and a beta of 0.85.

Immatics (NASDAQ:IMTX) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.51. Immatics had a negative return on equity of 15.90% and a negative net margin of 47.94%. The company had revenue of $15.67 million for the quarter, compared to analyst estimates of $16.16 million. On average, analysts forecast that Immatics will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immatics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its position in shares of Immatics by 94.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 25,580 shares of the company’s stock valued at $115,000 after buying an additional 12,425 shares during the period. Intellectus Partners LLC acquired a new position in shares of Immatics in the 1st quarter valued at $70,000. Wellington Management Group LLP grew its holdings in shares of Immatics by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 10,417,892 shares of the company’s stock worth $74,071,000 after purchasing an additional 736,709 shares during the period. Frazier Life Sciences Management L.P. increased its position in shares of Immatics by 58.6% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,147,911 shares of the company’s stock worth $15,272,000 after purchasing an additional 793,200 shares during the last quarter. Finally, Zimmer Partners LP raised its holdings in Immatics by 44.6% in the 4th quarter. Zimmer Partners LP now owns 405,000 shares of the company’s stock valued at $2,880,000 after buying an additional 125,000 shares during the period. 64.41% of the stock is currently owned by institutional investors and hedge funds.

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.