Immatics NV (IMTX) shares advanced nearly 4.7% in pre-market trading on Tuesday, reaching $9.10, after the company announced a $150 million underwritten public offering.
The offering includes 12,945,916 shares priced at $8.69 each, alongside 4,315,304 pre-funded warrants issued at the same price. The proceeds will support the company’s clinical development programs, including its PRAME-targeted pipeline, which remains on track for its first potential commercial product.
Goldman Sachs reiterated its Buy rating on Immatics shares during early pre-market hours, aligning with a broader strong-buy consensus among analysts. The average 12-month price target among covering firms stands between $17 and $19, indicating significant upside potential from current levels.
The biotech company also reported its second-quarter 2026 interim financial results, noting a bottom-line earnings beat. The positive momentum in Immatics’ stock comes as the NASDAQ Composite trades higher, providing a supportive macro backdrop for growth-oriented biotech equities.
Immatics’ shares remain well below their 52-week high of $12.41, reflecting the broader volatility in the sector despite the recent rally.
