Immatics (NASDAQ:IMTX) Releases Earnings Results

Immatics (NASDAQ:IMTX) released its quarterly earnings data on Tuesday. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.08), FiscalAI reports. Immatics had a negative net margin of 411.90% and a negative return on equity of 41.81%. The firm had revenue of $8.81 million during the quarter, compared to analysts’ expectations of $9.79 million.

Immatics Stock Performance

Shares of NASDAQ IMTX traded down $0.24 during midday trading on Tuesday, hitting $11.30. 180,871 shares of the company traded hands, compared to its average volume of 435,772. Immatics has a 12-month low of $4.15 and a 12-month high of $12.41. The stock has a 50-day moving average price of $10.41 and a 200 day moving average price of $10.14. The firm has a market cap of $1.51 billion, a P/E ratio of -6.14 and a beta of 1.31.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IMTX shares. Weiss Ratings restated a “sell (d-)” rating on shares of Immatics in a research report on Thursday, January 22nd. Jefferies Financial Group started coverage on shares of Immatics in a research report on Monday, March 16th. They issued a “buy” rating and a $18.00 price objective on the stock. Wall Street Zen cut shares of Immatics from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Mizuho set a $25.00 price objective on shares of Immatics in a research report on Thursday, February 19th. Finally, TD Cowen started coverage on shares of Immatics in a research report on Tuesday, April 28th. They issued a “buy” rating on the stock. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Institutional Investors Weigh In On Immatics

Several hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its stake in Immatics by 10.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,459,156 shares of the company’s stock worth $225,322,000 after acquiring an additional 2,075,987 shares in the last quarter. Virtus Investment Advisers LLC boosted its stake in Immatics by 43.0% during the fourth quarter. Virtus Investment Advisers LLC now owns 26,497 shares of the company’s stock worth $278,000 after acquiring an additional 7,965 shares in the last quarter. SummitTX Capital L.P. boosted its stake in Immatics by 117.7% during the fourth quarter. SummitTX Capital L.P. now owns 96,784 shares of the company’s stock worth $1,016,000 after acquiring an additional 52,318 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in Immatics during the fourth quarter worth about $575,000. Finally, Sphera Funds Management LTD. boosted its stake in Immatics by 47.7% during the fourth quarter. Sphera Funds Management LTD. now owns 861,105 shares of the company’s stock worth $9,042,000 after acquiring an additional 278,000 shares in the last quarter. Institutional investors own 64.41% of the company’s stock.

Immatics Company Profile

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.