Immatics (NASDAQ:IMTX) Sees Strong Trading Volume - Time to Buy?

On Thursday, shares of Immatics (NASDAQ:IMTX) experienced a notable increase in trading volume, with 1,005,206 shares exchanging hands. This marks a significant 70% rise compared to the previous day's volume of 590,925 shares. The stock was priced at $5.36, just down slightly from its prior close of $5.37.

Analyst Upgrades and Recommendations

Recently, The Goldman Sachs Group upgraded Immatics to a "strong-buy" rating in a report released on November 25th. Currently, four equity analysts have given the stock a buy rating, while one analyst has categorized it as a strong buy. Data from MarketBeat reveals that the consensus rating for Immatics stands at "Buy" with an average price target of $16.67.

Check Out Our Latest Report on IMTX

Performance Overview of Immatics Stock

Immatics has a fifty-day simple moving average of $5.12 and a 200-day simple moving average of $7.78. Presently, the stock holds a market capitalization of approximately $636.17 million, a P/E ratio of -8.08, and a beta of 0.83.

Institutional Holdings Activity

Several hedge funds have recently adjusted their positions in Immatics. During the fourth quarter, Bank of America Corp DE increased its stake by 166.0%, now holding 3,575 shares valued at $25,000 after adding 2,231 shares. Similarly, Virtus ETF Advisers LLC expanded its position by 34.8%, with total holdings now at 9,594 shares worth $68,000. Guggenheim Capital LLC also established a new position valued around $101,000. In addition, Forefront Analytics LLC boosted its holdings by 42.3%, now owning 15,911 shares worth $113,000 after acquiring more shares. Lastly, Texas Capital Bank Wealth Management Services Inc. bought a new stake in Immatics worth $114,000 during the third quarter. In total, institutional investors own 64.41% of the company’s stock.

About Immatics N.V.

(Get Free Report)

Immatics N.V. is a clinical-stage biopharmaceutical company focused on researching and developing T cell redirecting immunotherapies designed to treat cancer in the U.S. The company is particularly engaged in developing targeted immunotherapies aimed at solid tumors using two main types of treatment: TCR-engineered autologous or allogeneic adoptive cell therapies (ACT) and antibody-like TCR bispecifics.

Further Reading

• Five stocks we like better than Immatics
• How to Calculate Options Profits
• Everything About Amazon Stock Signals a Buy—Time to Load Up?
• How to Invest in Blue Chip Stocks
• 5 Reasons Five Below’s Stock Price Is Heading Higher This Year
• Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
• Broadcom: Why the Chip Stock Remains a Top Long-Term AI Play

This news alert was generated using technology and data to provide readers with fast and accurate reporting.

Should You Invest in Immatics Now?

Before making an investment in Immatics, it's essential to evaluate your options carefully.

MarketBeat monitors top-rated analysts and their stock recommendations daily. While Immatics currently has a buy rating from analysts, others believe that there are five better stocks to consider for investment.

Explore the Five Stocks Here

Immatics, Stocks, Trading