Immatics (NASDAQ:IMTX) Issues Quarterly Earnings Results

Immatics (NASDAQ:IMTX) announced its quarterly earnings data on Tuesday. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.10), Zacks reports. Immatics had a negative return on equity of 47.36% and a negative net margin of 572.35%.

Immatics Trading Down 2.0%

NASDAQ IMTX opened at $9.25 on Tuesday. The stock’s 50 day moving average is $9.49 and its two-hundred day moving average is $10.06. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -4.65 and a beta of 1.33. Immatics has a 1-year low of $5.05 and a 1-year high of $12.41.

Analysts Set New Price Targets

IMTX has been the topic of a number of research reports. Chardan Capital restated a “buy” rating and set a $25.00 price objective on shares of Immatics in a research report on Tuesday, May 19th. Weiss Ratings downgraded shares of Immatics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. TD Cowen started coverage on shares of Immatics in a research note on Tuesday, April 28th. They set a “buy” rating on the stock. Finally, Wall Street Zen lowered shares of Immatics from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Immatics presently has a consensus rating of “Moderate Buy” and an average target price of $20.80.

Hedge Funds Weigh In On Immatics

A number of hedge funds have recently modified their holdings of IMTX. Bank of America Corp DE boosted its stake in Immatics by 166.0% in the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after buying an additional 2,231 shares in the last quarter. Quarry LP acquired a new position in Immatics during the fourth quarter worth $84,000. Engineers Gate Manager LP acquired a new position in Immatics during the second quarter worth $124,000. Fox Run Management L.L.C. bought a new position in shares of Immatics during the fourth quarter valued at $129,000. Finally, Graham Capital Management L.P. bought a new position in shares of Immatics during the fourth quarter valued at $206,000. 64.41% of the stock is 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.