Immatics (NASDAQ:IMTX) Posts Quarterly Earnings Results

Immatics (NASDAQ:IMTX) issued its quarterly earnings data on Tuesday. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.07), Zacks reports. Immatics had a negative return on equity of 47.41% and a negative net margin of 495.71%. The firm had revenue of $7.84 million for the quarter, compared to analysts’ expectations of $12.18 million.

Immatics Stock Performance

IMTX traded up $0.28 during trading on Wednesday, hitting $6.71. The stock had a trading volume of 510,566 shares, compared to its average volume of 580,697. The firm has a market capitalization of $916.51 million, a P/E ratio of -3.60 and a beta of 1.38. Immatics has a twelve month low of $6.09 and a twelve month high of $12.41. The company’s 50-day moving average price is $7.89 and its 200 day moving average price is $9.46.

Analysts Set New Price Targets

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

Insider Activity at Immatics

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

About Immatics

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.