Immatics (NASDAQ:IMTX) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Immatics (NASDAQ:IMTX) saw unusually-strong trading volume on Tuesday . Approximately 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.

Analysts Set New Price Targets

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

Immatics Stock Performance

The company has a market cap of $946.52 million, a P/E ratio of -11.50 and a beta of 0.78. The business’s fifty day moving average is $9.80 and its two-hundred day moving average is $11.13.

Institutional Investors Weigh In On Immatics

Hedge funds have recently made changes to their positions in the company. Quarry LP bought a new position in Immatics during the 2nd quarter worth about $99,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in Immatics during the third quarter valued at approximately $114,000. Forefront Analytics LLC purchased a new stake in Immatics during the second quarter worth $139,000. AlphaCentric Advisors LLC lifted its stake in shares of Immatics by 14.3% during the 2nd 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 purchased a new stake in shares of Immatics during the second quarter valued at about $242,000. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

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.