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

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

Immatics Stock Performance

Shares of NASDAQ IMTX traded down $0.20 during midday trading on Tuesday, reaching $11.34. 189,402 shares of the company’s stock were exchanged, compared to its average volume of 435,907. Immatics has a 52-week low of $4.15 and a 52-week high of $12.41. The stock has a market capitalization of $1.52 billion, a PE ratio of -6.17 and a beta of 1.31. The business’s fifty day moving average price is $10.41 and its two-hundred day moving average price is $10.14.

Analyst Upgrades and Downgrades

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

Institutional Trading of Immatics

Hedge funds and other institutional investors have recently bought and sold shares of the company. RTW Investments LP grew its holdings in shares of Immatics by 29.7% during the fourth quarter. RTW Investments LP now owns 11,433,354 shares of the company’s stock valued at $120,050,000 after purchasing an additional 2,617,737 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of 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 valued at $225,322,000 after purchasing an additional 2,075,987 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Immatics by 4,991.1% during the third quarter. Millennium Management LLC now owns 721,866 shares of the company’s stock valued at $6,150,000 after purchasing an additional 707,687 shares during the last quarter. Sofinnova Investments Inc. grew its holdings in shares of Immatics by 44.1% during the second 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. Finally, Balyasny Asset Management L.P. bought a new position in shares of Immatics during the fourth quarter valued at approximately $6,220,000. 64.41% of the stock is owned by institutional investors.

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.