Immatics (NASDAQ:IMTX) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Immatics (NASDAQ:IMTX) announced its earnings results on Thursday. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.14, Zacks reports. Immatics had a negative net margin of 146.13% and a negative return on equity of 24.16%. The business had revenue of $23.00 million for the quarter, compared to the consensus estimate of $12.18 million.

Immatics Stock Down 3.5%

Shares of NASDAQ IMTX traded down $0.36 during midday trading on Friday, reaching $9.79. The company had a trading volume of 95,825 shares, compared to its average volume of 382,235. The stock has a market cap of $1.19 billion, a PE ratio of -9.59 and a beta of 1.34. Immatics has a one year low of $3.30 and a one year high of $12.41. The firm’s fifty day moving average price is $9.89 and its 200-day moving average price is $9.14.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Leerink Partners restated an “outperform” rating and set a $17.00 price objective on shares of Immatics in a research report on Thursday, December 4th. Wall Street Zen cut Immatics from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Immatics in a research report on Thursday, January 22nd. Mizuho set a $25.00 price target on Immatics in a research note on Thursday, February 19th. Finally, Guggenheim upped their price objective on Immatics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.20.

Institutional Trading of Immatics

Several hedge funds and other institutional investors have recently bought and sold shares of IMTX. Bank of America Corp DE grew its holdings in Immatics by 166.0% in the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after acquiring an additional 2,231 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Immatics by 31.5% in the second quarter. JPMorgan Chase & Co. now owns 198,769 shares of the company’s stock worth $1,069,000 after purchasing an additional 47,590 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Immatics by 105.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 78,123 shares of the company’s stock valued at $420,000 after purchasing an additional 40,058 shares during the period. Engineers Gate Manager LP purchased a new position in Immatics during the 2nd quarter valued at about $124,000. Finally, Sofinnova Investments Inc. raised its position in Immatics by 44.1% during the 2nd quarter. Sofinnova Investments Inc. now owns 2,240,528 shares of the company’s stock valued at $12,054,000 after purchasing an additional 686,224 shares during the last quarter. Institutional investors own 64.41% of the company’s stock.

About Immatics

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.