Immatics (NASDAQ:IMTX) Posts Quarterly Earnings Results, Beats Expectations By $0.51 EPS

Immatics (NASDAQ:IMTX) announced its quarterly earnings results on Thursday. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.51, Zacks reports. Immatics had a negative net margin of 47.94% and a negative return on equity of 15.90%. The firm had revenue of $15.67 million during the quarter, compared to analysts’ expectations of $16.16 million.

Immatics Stock Performance

IMTX stock traded down $0.08 during midday trading on Friday, reaching $4.63. The stock had a trading volume of 574,228 shares, compared to its average volume of 625,304. Immatics has a 52-week low of $4.06 and a 52-week high of $13.77. The firm has a fifty day simple moving average of $4.97 and a two-hundred day simple moving average of $7.54. The stock has a market cap of $552.62 million, a PE ratio of -7.02 and a beta of 0.83.

Institutional Investors Weigh In On Immatics

An institutional investor recently raised its position in Immatics stock. Bank of America Corp DE raised its stake in Immatics (NASDAQ:IMTX) by 166.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,575 shares of the company’s stock after buying an additional 2,231 shares during the quarter. Bank of America Corp DE’s holdings in Immatics were worth $25,000 at the end of the most recent quarter. 64.41% of the stock is currently owned by institutional investors.

Immatics Company Profile

Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the research and development of potential T cell redirecting immunotherapies for the treatment of cancer in the United States. The company is developing targeted immunotherapies with a focus on treating solid tumors through two distinct treatment modalities, such as TCR-engineered autologous or allogeneic adoptive cell therapies (ACT) and antibody-like TCR Bispecifics.