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

Immatics (NASDAQ:IMTX) issued its quarterly earnings data on Tuesday. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.08), FiscalAI reports. The company had revenue of $8.81 million during the quarter, compared to analysts’ expectations of $9.79 million. Immatics had a negative net margin of 411.90% and a negative return on equity of 41.81%.

Immatics Stock Performance

Immatics stock traded down $0.51 during trading on Wednesday, hitting $10.89. The company’s stock had a trading volume of 1,100,380 shares, compared to its average volume of 446,457. The stock’s fifty day moving average is $10.43 and its 200 day moving average is $10.15. Immatics has a 1-year low of $4.30 and a 1-year high of $12.41. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -5.93 and a beta of 1.31.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Immatics by 10.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,459,156 shares of the company’s stock worth $225,322,000 after acquiring an additional 2,075,987 shares during the period. Virtus Investment Advisers LLC grew its holdings in Immatics by 43.0% in the fourth quarter. Virtus Investment Advisers LLC now owns 26,497 shares of the company’s stock valued at $278,000 after purchasing an additional 7,965 shares during the period. SummitTX Capital L.P. increased its position in Immatics by 117.7% during the fourth quarter. SummitTX Capital L.P. now owns 96,784 shares of the company’s stock worth $1,016,000 after purchasing an additional 52,318 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in Immatics during the fourth quarter worth approximately $575,000. Finally, Sphera Funds Management LTD. raised its stake in Immatics by 47.7% during the fourth quarter. Sphera Funds Management LTD. now owns 861,105 shares of the company’s stock worth $9,042,000 after purchasing an additional 278,000 shares during the period. Institutional investors and hedge funds own 64.41% of the company’s stock.

About Immatics

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.