Immatics (NASDAQ:IMTX) Announces Quarterly Earnings Results

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

Immatics Price Performance

Shares of Immatics stock traded down $0.06 during trading on Tuesday, hitting $6.37. 260,094 shares of the company’s stock traded hands, compared to its average volume of 576,648. The business has a 50-day simple moving average of $7.95 and a 200-day simple moving average of $9.48. The stock has a market capitalization of $870.72 million, a P/E ratio of -3.42 and a beta of 1.38. Immatics has a 1 year low of $6.09 and a 1 year high of $12.41.

Insider Activity at Immatics

In related news, Director Perceptive Advisors Llc bought 863,060 shares of the firm’s stock in a transaction that occurred on 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 acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

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

Immatics Company Profile

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.