Immatics (NASDAQ:IMTX) Sees Large Volume Increase – Should You Buy?

Shares of Immatics (NASDAQ:IMTX) saw an uptick in trading volume on Tuesday . 325,746 shares traded hands during mid-day 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.

Wall Street Analyst Weigh In

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

Immatics Stock Up 1.4 %

The stock has a market capitalization of $944.14 million, a P/E ratio of -11.98 and a beta of 0.78. The company has a fifty day moving average price of $9.63 and a 200-day moving average price of $11.09.

Institutional Trading of Immatics

A number of large investors have recently added to or reduced their stakes in IMTX. AlphaCentric Advisors LLC grew its holdings in shares of Immatics by 14.3% in the second quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock valued at $232,000 after purchasing an additional 2,500 shares in the last quarter. Quarry LP lifted its position in Immatics by 29.4% during the third quarter. Quarry LP now owns 11,000 shares of the company’s stock valued at $126,000 after purchasing an additional 2,500 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Immatics in the 3rd quarter worth $114,000. Forefront Analytics LLC bought a new stake in shares of Immatics in the 2nd quarter worth about $139,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Immatics by 9.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 164,766 shares of the company’s stock valued at $1,880,000 after buying an additional 13,997 shares in the last quarter. Institutional investors own 64.41% of the company’s stock.

About Immatics

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.