Immatics (NASDAQ:IMTX) Issues Earnings Results

Immatics (NASDAQ:IMTX) issued its quarterly earnings data on Tuesday. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.10), Zacks reports. Immatics had a negative return on equity of 47.36% and a negative net margin of 572.35%.

Immatics Price Performance

Shares of IMTX stock opened at $9.25 on Tuesday. The firm has a market cap of $1.24 billion, a P/E ratio of -4.65 and a beta of 1.33. Immatics has a 1-year low of $5.05 and a 1-year high of $12.41. The firm has a fifty day moving average of $9.49 and a two-hundred day moving average of $10.06.

Institutional Investors Weigh In On Immatics

A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of Immatics by 166.0% during the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after purchasing an additional 2,231 shares during the last quarter. Quarry LP bought a new stake in Immatics in the fourth quarter valued at about $84,000. Engineers Gate Manager LP bought a new stake in Immatics in the second quarter valued at about $124,000. Fox Run Management L.L.C. bought a new stake in Immatics in the fourth quarter valued at about $129,000. Finally, Graham Capital Management L.P. acquired a new stake in Immatics during the fourth quarter valued at approximately $206,000. Institutional investors and hedge funds own 64.41% of the company’s stock.

Analyst Upgrades and Downgrades

IMTX has been the subject of several recent analyst reports. Chardan Capital restated a “buy” rating and set a $25.00 target price on shares of Immatics in a research note on Tuesday, May 19th. Wall Street Zen cut Immatics from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings lowered Immatics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. Finally, TD Cowen initiated coverage on Immatics in a report on Tuesday, April 28th. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.80.

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.