Immatics (NASDAQ:IMTX) Upgraded at The Goldman Sachs Group

Immatics (NASDAQ:IMTX) was upgraded by investment analysts at The Goldman Sachs Group to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Piper Sandler started coverage on Immatics in a research note on Monday, October 7th. They set an “overweight” rating and a $19.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th. Finally, 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 report on Tuesday, November 19th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Immatics presently has a consensus rating of “Buy” and an average target price of $16.67.

Immatics Stock Up 1.4 %

Shares of NASDAQ IMTX opened at $7.91 on Monday. The stock has a market capitalization of $944.11 million, a price-to-earnings ratio of -11.98 and a beta of 0.78. Immatics has a 52 week low of $7.46 and a 52 week high of $13.77. The firm has a 50-day moving average price of $9.63 and a 200 day moving average price of $11.09.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IMTX. Frazier Life Sciences Management L.P. grew its holdings in shares of Immatics by 17.5% during the third quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company’s stock worth $15,457,000 after buying an additional 202,255 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Immatics by 1.5% in the 3rd quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock worth $110,462,000 after buying an additional 144,549 shares during the period. Texas Capital Bank Wealth Management Services Inc acquired a new position in Immatics in the third quarter valued at $114,000. State Street Corp boosted its holdings in Immatics by 11.2% in the third quarter. State Street Corp now owns 225,202 shares of the company’s stock valued at $2,570,000 after acquiring an additional 22,710 shares during the last quarter. Finally, Quarry LP grew 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 acquiring an additional 2,500 shares during the period. Institutional investors and hedge funds own 64.41% of the company’s stock.

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.