Immatics (NASDAQ:IMTX) Issues Earnings Results

Key Points

• Immatics reported a quarterly loss of $0.53 per share, missing the consensus estimate of a $0.43 loss. The company posted deeply negative profitability metrics, including a 572.35% net margin.
• Shares opened at $9.25 and traded down 2%, with the stock remaining below its 50-day and 200-day moving averages. Immatics has a $1.24 billion market capitalization and has traded between $5.05 and $12.41 over the past year.
• Analyst sentiment remains broadly positive: six analysts rate the stock Buy, compared with one Hold and one Sell, producing a consensus “Moderate Buy” rating and an average price target of $20.80. Institutional investors and hedge funds own 64.41% of the shares.

Immatics (NASDAQ:IMTX - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.10), Zacks reports. Immatics had a negative net margin of 572.35% and a negative return on equity of 47.36%.

Immatics Trading Down 2.0%

Shares of IMTX stock opened at $9.25 on Tuesday. The company's fifty day simple moving average is $9.49 and its 200-day simple moving average is $10.06. Immatics has a 52 week low of $5.05 and a 52 week high of $12.41. The company has a market cap of $1.24 billion, a PE ratio of -4.65 and a beta of 1.33.

Analyst Ratings Changes

A number of research firms recently issued reports on IMTX. Wall Street Zen downgraded shares of Immatics from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. TD Cowen began coverage on Immatics in a research report on Tuesday, April 28th. They issued a "buy" rating on the stock. Chardan Capital reissued a "buy" rating and set a $25.00 price target on shares of Immatics in a research report on Tuesday, May 19th. Finally, Weiss Ratings lowered Immatics from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, June 23rd. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Immatics presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.80.

Institutional Trading of Immatics

Several large investors have recently added to or reduced their stakes in IMTX. Bank of America Corp DE lifted its stake in shares of Immatics by 166.0% during 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 in the last quarter. Quarry LP purchased a new stake in shares of Immatics during the 4th quarter valued at about $84,000. Engineers Gate Manager LP purchased a new stake in shares of Immatics during the 2nd quarter valued at about $124,000. Fox Run Management L.L.C. purchased a new position in Immatics in the 4th quarter worth approximately $129,000. Finally, Graham Capital Management L.P. purchased a new position in Immatics in the 4th quarter worth approximately $206,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.

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.

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