Immatics (NASDAQ:IMTX) Issues Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Immatics (NASDAQ:IMTX) issued its earnings results on Tuesday. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.08), FiscalAI reports. Immatics had a negative net margin of 495.71% and a negative return on equity of 47.41%. The firm had revenue of $7.84 million for the quarter, compared to the consensus estimate of $12.18 million.

Immatics Trading Down 0.9%

NASDAQ:IMTX traded down $0.06 during mid-day trading on Tuesday, hitting $6.37. The stock had a trading volume of 260,094 shares, compared to its average volume of 576,648. The company has a market capitalization of $870.72 million, a PE ratio of -3.42 and a beta of 1.38. The stock has a 50-day simple moving average of $7.95 and a two-hundred day simple moving average of $9.48. Immatics has a twelve month low of $6.09 and a twelve month high of $12.41.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IMTX. Stifel Nicolaus assumed coverage on shares of Immatics in a report on Tuesday, October 13th. They issued a “buy” rating and a $15.00 price target for the company. Wall Street Zen lowered shares of Immatics from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immatics in a research report on Friday, September 18th. Mizuho set a $21.00 target price on Immatics in a report on Thursday, October 29th. Finally, Jefferies Financial Group set a $17.00 price target on Immatics in a research note on Tuesday, August 25th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.00.

Insider Activity

In other Immatics news, Director Perceptive Advisors Llc acquired 863,060 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were acquired at an average price of $8.69 per share, for a total transaction of $7,499,991.40. Following the acquisition, the director owned 11,246,516 shares in the company, valued at $97,732,224.04. The trade was a 8.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Immatics Company Profile

Immatics is a clinical-stage biopharmaceutical company focused on developing immunotherapies for cancer. Founded in Germany in 2000, the company uses its target-discovery and development platforms to identify cancer-associated targets and create therapies designed to direct the immune system against tumor cells.

Its pipeline includes engineered T-cell receptor (TCR) T-cell therapies, which modify a patient’s T cells to recognize specific tumor targets, as well as TCR bispecific therapies designed to connect T cells with cancer cells.