Immatics (NASDAQ:IMTX) Sees Significant Decline in Short Interest

Immatics (NASDAQ:IMTX) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 9,520,000 shares, a drop of 11.9% from the September 15th total of 10,800,000 shares. Based on an average trading volume of 324,000 shares, the short-interest ratio is currently 29.4 days.

Analyst Upgrades and Downgrades

IMTX has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed 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 note on Monday, October 7th. They set an “overweight” rating and a $19.00 target price for the company.

Immatics Stock Down 0.4 %

Shares of NASDAQ IMTX opened at $9.45 on Thursday. Immatics has a twelve month low of $7.15 and a twelve month high of $13.77. The firm has a fifty day simple moving average of $11.31 and a 200 day simple moving average of $11.45. The company has a market capitalization of $800.02 million, a PE ratio of -8.92 and a beta of 0.75.

Immatics (NASDAQ:IMTX) last announced its earnings results on Tuesday, August 13th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.17. Immatics had a negative net margin of 103.99% and a negative return on equity of 23.34%. The business had revenue of $20.19 million during the quarter, compared to the consensus estimate of $12.36 million. As a group, equities analysts expect that Immatics will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immatics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Perceptive Advisors LLC increased its stake in Immatics by 76.5% in the second quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock valued at $93,961,000 after purchasing an additional 3,503,750 shares in the last quarter. Baker BROS. Advisors LP increased its stake in Immatics by 10.4% in the first quarter. Baker BROS. Advisors LP now owns 6,443,398 shares of the company’s stock valued at $67,720,000 after purchasing an additional 604,545 shares in the last quarter. Wellington Management Group LLP increased its stake in Immatics by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 6,352,929 shares of the company’s stock valued at $66,896,000 after purchasing an additional 747,772 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Immatics by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,225,360 shares of the company’s stock valued at $33,899,000 after purchasing an additional 891,191 shares in the last quarter. Finally, RA Capital Management L.P. bought a new stake in Immatics in the first quarter valued at $18,392,000. 64.41% of the stock is owned by 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.