Immatics (NASDAQ:IMTX) Price Target Lowered to $15.00 at Bank of America

Immatics (NASDAQ:IMTX) had its target price lowered by equities research analysts at Bank of America from $16.00 to $15.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 92.31% from the stock’s previous close.

Several other research firms have also recently weighed in on IMTX. Piper Sandler started coverage on shares of Immatics in a research report on Monday, October 7th. They issued an “overweight” rating and a $19.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a report on Thursday, September 5th.

Immatics Stock Performance

Immatics stock opened at $7.80 on Tuesday. The business’s fifty day moving average is $10.10 and its two-hundred day moving average is $11.20. The firm has a market cap of $930.98 million, a P/E ratio of -8.76 and a beta of 0.78. Immatics has a 52 week low of $7.46 and a 52 week high of $13.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IMTX. Perceptive Advisors LLC lifted 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 buying an additional 3,503,750 shares during the period. RA Capital Management L.P. acquired a new stake in shares of Immatics in the 1st quarter valued at approximately $18,392,000. Braidwell LP bought a new position in Immatics during the 3rd quarter worth approximately $18,799,000. Frazier Life Sciences Management L.P. acquired a new position in Immatics during the second quarter valued at approximately $13,392,000. Finally, Vestal Point Capital LP grew its holdings in Immatics by 36.4% during the third quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock valued at $42,788,000 after purchasing an additional 1,000,000 shares during the period. 64.41% of the stock is currently owned by 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.