Immatics (NASDAQ:IMTX) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS

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

Immatics Trading Down 2.2%

Immatics stock traded down $0.14 on Tuesday, reaching $6.29. 327,108 shares of the stock were exchanged, compared to its average volume of 576,723. Immatics has a twelve month low of $6.09 and a twelve month high of $12.41. The firm has a fifty day moving average price of $7.95 and a two-hundred day moving average price of $9.48. The stock has a market cap of $859.37 million, a PE ratio of -3.38 and a beta of 1.38.

Wall Street Analyst Weigh In

IMTX has been the topic of a number of recent research reports. Jefferies Financial Group set a $17.00 price target on shares of Immatics in a report on Tuesday, August 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a research note on Friday, September 18th. Wall Street Zen lowered Immatics from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Stifel Nicolaus assumed coverage on Immatics in a report on Tuesday, October 13th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Mizuho set a $21.00 target price on 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. According to MarketBeat, the stock currently 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 purchased 863,060 shares of the stock in a transaction dated Wednesday, August 26th. The shares were bought at an average cost of $8.69 per share, with a total value of $7,499,991.40. Following the completion of the transaction, the director owned 11,246,516 shares in the company, valued at $97,732,224.04. This trade represents a 8.31% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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.