Immatics N.V. states that Vestal Point Capital and Ryan Wilder report ownership of 6,175,000 Ordinary Shares, representing 4.6% of the class.
The filing cites 134,071,432 Ordinary Shares outstanding as of December 31, 2025 (from the company's Form 20-F filed March 5, 2026). The shares are directly held by the Vestal Point Fund and Account; Mr. Wilder is identified as the investment manager's CIO and Managing Partner.
Positive
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Negative
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Insights
Vestal Point reports a 4.6% stake in Immatics totaling 6,175,000 shares.
The filing is a Schedule 13G/A amendment that lists the shared voting and dispositive power over 6,175,000 shares held by the Vestal Point Fund and Account. The filing references the company's disclosed outstanding share count of 134,071,432 as of December 31, 2025.
Timing and cash-flow treatment are not stated; subsequent disclosures would show any changes in holdings or voting intentions.
Key Figures
Reported shares owned:6,175,000 sharesPercent of class:4.6%Shares outstanding (base):134,071,432 shares+1 more
4 metrics
Reported shares owned6,175,000 sharesDirectly held by the Vestal Point Fund and Account
Percent of class4.6%Calculated using shares outstanding as of <date>Dec 31, 2025</date>
Shares outstanding (base)134,071,432 sharesAs reported in the Form 20-F for fiscal year ended <date>Dec 31, 2025</date>
Signature date05/15/2026Date signatures were executed on the Schedule 13G/A amendment
Key Terms
Schedule 13G/A, Beneficially owned, Shared dispositive power
3 terms
Schedule 13G/Aregulatory
"This statement is filed by: Vestal Point Capital... (Amendment No. 1)"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
Beneficially ownedfinancial
"Amount beneficially owned: The information required by Item 4(a) is set forth..."
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Shared dispositive powerregulatory
"Shared Dispositive Power 6,175,000.00"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Immatics N.V.
(Name of Issuer)
Ordinary Shares, nominal value 0.01 per share
(Title of Class of Securities)
N44445109
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
N44445109
1
Names of Reporting Persons
Vestal Point Capital, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
6,175,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
6,175,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,175,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.6 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
N44445109
1
Names of Reporting Persons
Ryan Wilder
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
6,175,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
6,175,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,175,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.6 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Immatics N.V.
(b)
Address of issuer's principal executive offices:
Paul Ehrlich-Strasse 15, 72076 Tubingen, Federal Republic of Germany
Item 2.
(a)
Name of person filing:
This statement is filed by:
(i) Vestal Point Capital, LP (the "Investment Manager"), a Delaware limited partnership, and the investment adviser to a certain fund and a managed account (the "Vestal Point Fund and Account"), with respect to the ordinary shares, nominal value (euro)0.01 per share (the "Ordinary Shares") of Immatics N.V. (the "Company") directly held by the Vestal Point Fund and Account; and
(ii) Mr. Ryan Wilder ("Mr. Wilder"), the Chief Investment Officer and Managing Partner of the Investment Manager and the Managing Member of Vestal Point Capital, LLC, the general partner of the Investment Manager, with respect to the Ordinary Shares directly held by the Vestal Point Fund and Account.
The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons."
The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the securities reported herein.
(b)
Address or principal business office or, if none, residence:
The address of the business office of each of the Reporting Persons is 632 Broadway, Suite 602, New York, NY 10012.
(c)
Citizenship:
The Investment Manager is a Delaware limited partnership. Mr. Wilder is a citizen of the United States.
(d)
Title of class of securities:
Ordinary Shares, nominal value 0.01 per share
(e)
CUSIP No.:
N44445109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 134,071,432 Ordinary Shares outstanding as reported in the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2025, filed with Securities and Exchange Commission on March 5, 2026.
(b)
Percent of class:
4.6%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
See Item 2(a). The Vestal Point Fund and Account has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, Ordinary Shares reported herein.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Vestal Point Capital, LP
Signature:
/s/ Ryan Wilder
Name/Title:
By: Vestal Point Capital, LLC, General Partner, By: Ryan Wilder, Chief Investment Officer and Managing Partner
What stake does Vestal Point Capital hold in Immatics (IMTX)?
Vestal Point Capital (and Ryan Wilder) report ownership of 6,175,000 Ordinary Shares, equal to 4.6% of the class. This percent uses a base of 134,071,432 shares outstanding as of December 31, 2025 from the Form 20-F.
Does Ryan Wilder personally own the reported Immatics shares?
The filing shows Mr. Wilder as the Chief Investment Officer and Managing Partner filing on behalf of the Investment Manager and the Vestal Point Fund and Account. It attributes the shares to the fund/account, not to a separate personal holding structure.
What voting or dispositive powers are reported for the 6,175,000 shares?
The filing reports shared voting power and shared dispositive power of 6,175,000 shares for the reporting persons. Sole voting and dispositive powers are shown as 0.00 on the cover page entries included by reference.
What outstanding share count was used to calculate the 4.6% ownership?
The percent is calculated using an aggregate of 134,071,432 Ordinary Shares outstanding as of December 31, 2025, as reported in the company's Form 20-F filed March 5, 2026, which the filer cites in Item 4(a).
When was the Schedule 13G/A amendment signed?
The filing is signed by Ryan Wilder on behalf of Vestal Point Capital, LLC and individually, with signatures dated 05/15/2026. The cover page references the CUSIP N44445109 for Immatics Ordinary Shares.
