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

Immatics (NASDAQ:IMTX) had its target price dropped by equities research analysts at Bank of America from $16.00 to $15.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 94.81% from the stock’s current price.

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

Immatics Trading Down 1.5 %

IMTX traded down $0.12 on Tuesday, hitting $7.70. 564,326 shares of the company’s stock traded hands, compared to its average volume of 496,700. The company’s 50 day simple moving average is $10.26 and its 200-day simple moving average is $11.24. Immatics has a one year low of $7.70 and a one year high of $13.77. The firm has a market cap of $919.04 million, a price-to-earnings ratio of -8.80 and a beta of 0.78.

Institutional Trading of Immatics

Several hedge funds have recently modified their holdings of IMTX. Perceptive Advisors LLC grew its holdings 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 valued at $93,961,000 after purchasing an additional 3,503,750 shares in the last quarter. RA Capital Management L.P. purchased a new position in shares of Immatics in the 1st quarter worth $18,392,000. Braidwell LP purchased a new position in shares of Immatics in 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. Finally, Vestal Point Capital LP raised its position in shares of Immatics by 36.4% during the 3rd quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock valued at $42,788,000 after buying an additional 1,000,000 shares in the last quarter. 64.41% of the stock is owned by hedge funds and other 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.