Immatics (NASDAQ:IMTX) Issues Quarterly Earnings Results

Immatics (NASDAQ:IMTX) posted its quarterly earnings results on Tuesday. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.07), Zacks reports. The business had revenue of $7.84 million for the quarter, compared to the consensus estimate of $12.18 million. Immatics had a negative return on equity of 52.27% and a negative net margin of 533.26%.

Immatics Trading Down 2.5%

Immatics stock traded down $0.17 during trading on Thursday, hitting $6.52. 140,653 shares of the company were exchanged, compared to its average volume of 580,898. The company has a market capitalization of $891.22 million, a P/E ratio of -3.34 and a beta of 1.38. The business’s 50 day moving average is $7.83 and its 200 day moving average is $9.45. Immatics has a 52 week low of $6.09 and a 52 week high of $12.41.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Perceptive Advisors Llc acquired 863,060 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were purchased at an average cost of $8.69 per share, with a total value of $7,499,991.40. Following the acquisition, the director directly owned 11,246,516 shares of the company’s stock, valued at $97,732,224.04. The trade was a 8.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.30% of the company’s stock.

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.