Immatics (NASDAQ:IMTX) Short Interest Update

Immatics (NASDAQ:IMTX) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totalling 10,020,000 shares, a growth of 5.3% from the September 30th total of 9,520,000 shares. Based on an average daily trading volume, of 487,400 shares, the short-interest ratio is presently 20.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of 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 during the last quarter. HighVista Strategies LLC purchased a new stake in Immatics during the 2nd quarter valued at about $904,000. Frazier Life Sciences Management L.P. acquired a new stake in Immatics in the 2nd quarter valued at about $13,392,000. Perceptive Advisors LLC lifted its stake in Immatics by 76.5% in the 2nd quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock worth $93,961,000 after purchasing an additional 3,503,750 shares in the last quarter. Finally, Forefront Analytics LLC purchased a new position in Immatics in the 2nd quarter worth approximately $139,000. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

Immatics Price Performance

NASDAQ IMTX traded down $0.11 on Thursday, hitting $9.12. The company had a trading volume of 60,068 shares, compared to its average volume of 488,363. The company has a market capitalization of $1.09 billion, a PE ratio of -10.37 and a beta of 0.75. Immatics has a 12-month low of $7.15 and a 12-month high of $13.77. The company’s fifty day moving average price is $10.89 and its 200-day moving average price is $11.36.

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

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.