Immatics (NASDAQ:IMTX) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Immatics (NASDAQ:IMTX) by 7.1% in the 3rd quarter, Holdings Channel reports. The fund owned 299,066 shares of the company’s stock after selling 22,694 shares during the period. JPMorgan Chase & Co.’s holdings in Immatics were worth $3,412,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IMTX. Perceptive Advisors LLC increased its stake in shares of Immatics by 76.5% in the second quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock worth $93,961,000 after buying an additional 3,503,750 shares during the last quarter. Braidwell LP acquired a new position in Immatics during the 3rd quarter worth $18,799,000. Frazier Life Sciences Management L.P. bought a new stake in shares of Immatics in the 2nd quarter worth about $13,392,000. Vestal Point Capital LP increased its position in shares of Immatics by 36.4% in the 3rd quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock worth $42,788,000 after purchasing an additional 1,000,000 shares during the last quarter. Finally, abrdn plc acquired a new stake in shares of Immatics in the 3rd quarter valued at about $2,657,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on IMTX shares. Bank of America decreased 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. Piper Sandler initiated coverage on Immatics in a research report on Monday, October 7th. They issued an “overweight” rating and a $19.00 target price for the company. Finally, The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $16.67.

Immatics Stock Up 0.2 %

Shares of NASDAQ:IMTX opened at $5.35 on Friday. The company has a market cap of $638.58 million, a PE ratio of -8.11 and a beta of 0.77. Immatics has a fifty-two week low of $5.28 and a fifty-two week high of $13.77. The firm has a 50-day simple moving average of $7.35 and a 200 day simple moving average of $9.85.

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.