Immatics (NASDAQ:IMTX) Sees Significant Decline in Short Interest

Immatics (NASDAQ:IMTX) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 9,520,000 shares, a decrease of 11.9% from the September 15th total of 10,800,000 shares. Based on an average trading volume of 324,000 shares, the days-to-cover ratio is currently 29.4 days.

Wall Street Analysts Forecast Growth

IMTX has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immatics in a report on Thursday, September 5th. Piper Sandler assumed coverage on shares of Immatics in a research report on Monday, October 7th. They set an “overweight” rating and a $19.00 price target on the stock.

Immatics Trading Down 0.4 %

NASDAQ IMTX opened at $9.45 on Thursday. The firm has a market capitalization of $800.02 million, a price-to-earnings ratio of -8.92 and a beta of 0.75. The firm’s 50 day simple moving average is $11.31 and its 200 day simple moving average is $11.45. Immatics has a 1 year low of $7.15 and a 1 year high of $13.77.

Immatics (NASDAQ:IMTX) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.17. The business had revenue of $20.19 million for the quarter, compared to analyst estimates of $12.36 million. Immatics had a negative net margin of 103.99% and a negative return on equity of 23.34%. On average, equities research analysts forecast that Immatics will post -0.94 earnings per share for the current year.

Institutional Trading of Immatics

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in Immatics by 324.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,548,909 shares of the company’s stock valued at $16,310,000 after buying an additional 1,183,860 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Immatics by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,225,360 shares of the company’s stock valued at $33,899,000 after buying an additional 891,191 shares in the last quarter. Wasatch Advisors LP acquired a new stake in Immatics in the first quarter valued at approximately $7,676,000. Wellington Management Group LLP boosted its position in Immatics by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 6,352,929 shares of the company’s stock valued at $66,896,000 after buying an additional 747,772 shares in the last quarter. Finally, HighVista Strategies LLC acquired a new stake in Immatics in the second quarter valued at approximately $904,000. Institutional investors and hedge funds 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.