5 Most Undervalued Biotech Stocks To Buy According To Hedge Funds

3. Immatics N.V. (NASDAQ:IMTX)

Number of Hedge Fund Holders: 25

PE Ratio as of February 8: 14.81

Immatics N.V. (NASDAQ:IMTX) is a German biotech company focused on the discovery and development of T cell receptor (TCR) based immunotherapies for the treatment of cancer. A total of 25 hedge funds among the 920 funds tracked by Insider Monkey reported owning stakes in Immatics N.V. (NASDAQ:IMTX) at the end of the third quarter of 2022. The net worth of these stakes was $172 million. The biggest stakeholder of Immatics N.V. (NASDAQ:IMTX) during this period was Julian Baker and Felix Baker’s Baker Bros. Advisors which owns a $44 million stake in the company.

In the third quarter, Immatics N.V. (NASDAQ:IMTX)’ revenue jumped a whopping 133% on a YoY basis. In October 2022, Immatics N.V. (NASDAQ:IMTX) shares jumped after the company posted upbeat data for Phase 1 study of its IMA203 as a potential cancer treatment.