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

Immatics (NASDAQ:IMTX) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 9,520,000 shares, a drop 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 presently 29.4 days.

Immatics Stock Up 0.7 %

Shares of NASDAQ IMTX traded up $0.07 during midday trading on Wednesday, hitting $9.56. The stock had a trading volume of 569,185 shares, compared to its average volume of 490,749. The company has a market capitalization of $809.33 million, a PE ratio of -8.95 and a beta of 0.75. The stock has a 50 day simple moving average of $11.34 and a 200-day simple moving average of $11.47. 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) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.17. Immatics had a negative return on equity of 23.34% and a negative net margin of 103.99%. The firm had revenue of $20.19 million during the quarter, compared to analysts’ expectations of $12.36 million. As a group, analysts expect that Immatics will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immatics

Several hedge funds and other institutional investors have recently made changes to their positions in IMTX. Quarry LP acquired a new stake in shares of Immatics in the second quarter valued at approximately $99,000. Forefront Analytics LLC acquired a new stake in shares of Immatics in the second quarter valued at approximately $139,000. Nan Fung Group Holdings Ltd acquired a new stake in shares of Immatics in the first quarter valued at approximately $165,000. AlphaCentric Advisors LLC increased its holdings in shares of Immatics by 14.3% in the second quarter. AlphaCentric Advisors LLC now owns 20,000 shares of the company’s stock valued at $232,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Immatics in the second quarter valued at approximately $242,000. Institutional investors and hedge funds own 64.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IMTX shares. Piper Sandler started coverage on Immatics in a research report on Monday, October 7th. They issued an “overweight” rating and a $19.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th.

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.