Point72 Asset Management L.P. Takes $298,000 Position in Immatics (NASDAQ:IMTX)

Point72 Asset Management L.P. purchased a new stake in shares of Immatics (NASDAQ:IMTX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,100 shares of the company’s stock, valued at approximately $298,000.

Several other hedge funds have also added to or reduced their stakes in IMTX. Perceptive Advisors LLC lifted its position in Immatics by 76.5% during the 2nd 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 during the period. Vestal Point Capital LP raised its stake in shares of Immatics by 36.4% during the third quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock worth $42,788,000 after buying an additional 1,000,000 shares during the last quarter. Braidwell LP acquired a new position in Immatics in the third quarter valued at approximately $18,799,000. Frazier Life Sciences Management L.P. bought a new position in Immatics in the second quarter valued at approximately $13,392,000. Finally, Wasatch Advisors LP boosted its stake in Immatics by 3.5% in the third quarter. Wasatch Advisors LP now owns 872,511 shares of the company’s stock valued at $9,955,000 after acquiring an additional 29,239 shares during the last quarter. Institutional investors own 64.41% of the company’s stock.

Immatics Price Performance

NASDAQ IMTX opened at $7.41 on Friday. Immatics has a one year low of $7.27 and a one year high of $13.77. The firm has a market cap of $884.43 million, a P/E ratio of -11.23 and a beta of 0.74. The stock’s 50-day moving average is $8.83 and its 200-day moving average is $10.86.

Wall Street Analysts Forecast Growth

IMTX has been the topic of a number of analyst reports. Bank of America cut their price target on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Piper Sandler initiated coverage on Immatics in a report on Monday, October 7th. They set an “overweight” rating and a $19.00 target price on the stock. The Goldman Sachs Group raised Immatics to a “strong-buy” rating in a research note on Monday, November 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $16.67.

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.