Immatics (NASDAQ:IMTX) Sees Strong Trading Volume – Should You Buy?

Shares of Immatics (NASDAQ:IMTX) saw unusually-strong trading volume on Thursday . Approximately 1,005,206 shares changed hands during trading, an increase of 70% from the previous session’s volume of 590,925 shares.The stock last traded at $5.36 and had previously closed at $5.37.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of Immatics to a “strong-buy” rating in a research report on Monday, November 25th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $16.67.

Immatics Trading Down 0.7 %

The business has a fifty day moving average of $5.12 and a 200-day moving average of $7.78. The firm has a market cap of $636.17 million, a PE ratio of -8.08 and a beta of 0.83.

Institutional Trading of Immatics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Suvretta Capital Management LLC bought a new position in Immatics in the 4th quarter worth about $36,014,000. T. Rowe Price Investment Management Inc. increased its position in shares of Immatics by 43.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,604,777 shares of the company’s stock worth $75,400,000 after purchasing an additional 3,225,141 shares during the last quarter. Vestal Point Capital LP raised its stake in Immatics by 67.3% in the fourth quarter. Vestal Point Capital LP now owns 6,275,000 shares of the company’s stock valued at $44,615,000 after purchasing an additional 2,525,000 shares in the last quarter. Braidwell LP raised its stake in Immatics by 112.7% in the fourth quarter. Braidwell LP now owns 3,503,965 shares of the company’s stock valued at $24,913,000 after purchasing an additional 1,856,400 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP grew its stake in Immatics by 38.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company’s stock worth $38,496,000 after buying an additional 1,509,547 shares in the last quarter. 64.41% of the stock is currently 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.