Immatics (NASDAQ:IMTX) Announces Quarterly Earnings Results, Misses Expectations By $0.08 EPS

by · The Cerbat Gem

Immatics (NASDAQ:IMTX – Get Free Report) issued its earnings results on Tuesday. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.08), FiscalAI reports. The firm had revenue of $8.81 million during the quarter, compared to the consensus estimate of $9.79 million. Immatics had a negative return on equity of 41.81% and a negative net margin of 411.90%.

Immatics Price Performance

Immatics stock traded down $0.24 during midday trading on Tuesday, reaching $11.30. 180,871 shares of the company traded hands, compared to its average volume of 435,772. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -6.14 and a beta of 1.31. The business has a 50 day moving average of $10.41 and a two-hundred day moving average of $10.14. Immatics has a 12 month low of $4.15 and a 12 month high of $12.41.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. TD Cowen assumed coverage on shares of Immatics in a research note on Tuesday, April 28th. They issued a “buy” rating on the stock. Wall Street Zen downgraded shares of Immatics from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Jefferies Financial Group assumed coverage on shares of Immatics in a research note on Monday, March 16th. They issued a “buy” rating and a $18.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a research note on Thursday, January 22nd. Finally, Mizuho set a $25.00 target price on shares of Immatics in a research note on Thursday, February 19th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Get Our Latest Research Report on Immatics

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in Immatics by 166.0% during the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after purchasing an additional 2,231 shares during the period. Quarry LP bought a new position in Immatics during the fourth quarter valued at approximately $84,000. Fox Run Management L.L.C. bought a new position in Immatics during the fourth quarter valued at approximately $129,000. Graham Capital Management L.P. bought a new position in Immatics during the fourth quarter valued at approximately $206,000. Finally, Engineers Gate Manager LP bought a new position in Immatics during the second quarter valued at approximately $124,000. Institutional investors own 64.41% of the company’s stock.

Immatics Company Profile

(Get Free Report)

Immatics N.V. (NASDAQ: IMTX) is a clinical-stage biotechnology company dedicated to the development of T cell receptor (TCR)-based immunotherapies for solid tumors. The company leverages its proprietary discovery and engineering platforms to identify tumor-specific peptide targets and develop therapies that harness the power of a patient’s immune system. Immatics’ approach aims to generate durable responses by guiding T cells to recognize and kill cancer cells with high precision.

At the core of Immatics’ technology suite is the XPRESIDENT® platform, which mines the cancer peptidome to uncover novel tumor antigens naturally presented on the surface of cancer cells.

See Also