Shares of biopharmaceutical company Immatics (NASDAQ:IMTX) are rising today after the company announced an underwritten stock offering of $110 million.
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Immatics is offering ~10.9 million common shares at $10.09 apiece. The offer closes on October 12.
Despite today’s gains, Immatics shares are still down 21.5% over the past month.
Is IMTX Stock Undervalued?
IMTX stock has been volatile over the past few weeks and the Street remains cautiously optimistic, with a Moderate Buy consensus rating based on two Buys.
Further, the average analyst price target of $28 points to a mouth-watering 154.89% potential upside for Immatics stock.
