Immatics (NASDAQ:IMTX) Shares Gap Up on Earnings Beat

Immatics (NASDAQ:IMTX) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $4.53, but opened at $4.82. Immatics shares last traded at $4.74, with a volume of 256,808 shares.

The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.51. Immatics had a negative net margin of 47.94% and a negative return on equity of 15.90%. The business had revenue of $15.67 million for the quarter, compared to analysts’ expectations of $16.16 million.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. abrdn plc boosted its position in shares of Immatics by 49.2% in the 4th quarter. abrdn plc now owns 347,379 shares of the company’s stock worth $2,470,000 after buying an additional 114,479 shares in the last quarter. Vestal Point Capital LP lifted its holdings in shares of Immatics by 36.4% in the third quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock valued at $42,788,000 after purchasing an additional 1,000,000 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Immatics by 1.5% in the third quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock valued at $110,462,000 after purchasing an additional 144,549 shares during the last quarter. Frazier Life Sciences Management L.P. increased its stake in shares of Immatics by 17.5% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company’s stock worth $15,457,000 after purchasing an additional 202,255 shares in the last quarter. Finally, State Street Corp raised its position in shares of Immatics by 11.2% during the 3rd quarter. State Street Corp now owns 225,202 shares of the company’s stock worth $2,570,000 after purchasing an additional 22,710 shares during the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Immatics Trading Down 1.7 %

The business has a 50 day moving average of $4.96 and a 200-day moving average of $7.49. The stock has a market cap of $552.62 million, a PE ratio of -7.02 and a beta of 0.83.

About Immatics

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.