Immatics (NASDAQ:IMTX) Issues Earnings Results, Misses Estimates By $0.06 EPS

Immatics (NASDAQ:IMTX) posted its quarterly earnings results on Tuesday. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.06), Zacks reports. The company had revenue of $10.44 million for the quarter, compared to the consensus estimate of $12.42 million. Immatics had a negative return on equity of 46.09% and a negative net margin of 495.71%.

Immatics Stock Performance

IMTX stock opened at $9.25 on Thursday. The company’s fifty day moving average price is $9.49 and its 200-day moving average price is $10.06. Immatics has a one year low of $5.05 and a one year high of $12.41. The company has a market capitalization of $1.24 billion, a PE ratio of -4.97 and a beta of 1.33.

Institutional Trading of Immatics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Immatics by 3.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 49,374 shares of the company’s stock valued at $518,000 after purchasing an additional 1,739 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Immatics by 166.0% in 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. Barclays PLC lifted its position in shares of Immatics by 11.4% in the fourth quarter. Barclays PLC now owns 28,185 shares of the company’s stock worth $296,000 after buying an additional 2,874 shares in the last quarter. Virtus Investment Advisers LLC boosted its stake in Immatics by 43.0% during the fourth quarter. Virtus Investment Advisers LLC now owns 26,497 shares of the company’s stock valued at $278,000 after buying an additional 7,965 shares during the last quarter. Finally, Quarry LP purchased a new position in Immatics during the 4th quarter valued at approximately $84,000. 64.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TD Cowen started coverage on shares of Immatics in a research note 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 report on Saturday, May 2nd. Weiss Ratings lowered shares of Immatics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Finally, Chardan Capital restated a “buy” rating and set a $25.00 target price on shares of Immatics in a research report on Tuesday, May 19th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.80.

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.