Immatics (NASDAQ:IMTX) Expected to Announce Quarterly Sales of $151.68 Million

Wall Street analysts expect Immatics (NASDAQ:IMTX – Get Rating) to post $151.68 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Immatics’ earnings. The highest sales estimate is $163.72 million and the lowest is $139.64 million. Immatics posted sales of $8.92 million during the same quarter last year, which suggests a positive year over year growth rate of 1,600.4%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Immatics will report full year sales of $184.42 million for the current financial year, with estimates ranging from $181.57 million to $189.44 million. For the next financial year, analysts forecast that the firm will report sales of $40.39 million, with estimates ranging from $39.13 million to $41.64 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Immatics.

Immatics (NASDAQ:IMTX – Get Rating) last posted its quarterly earnings data on Wednesday, March 23rd. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of $1.94 by ($2.24). The firm had revenue of $17.99 million during the quarter, compared to analyst estimates of $84.78 million. Immatics had a negative net margin of 260.05% and a negative return on equity of 154.19%.

IMTX has been the subject of several analyst reports. SVB Leerink dropped their target price on Immatics from $32.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, March 24th. Zacks Investment Research cut Immatics from a “buy” rating to a “hold” rating in a report on Thursday, May 5th.

NASDAQ:IMTX traded up $0.56 during trading hours on Monday, hitting $6.88. The company had a trading volume of 133,140 shares, compared to its average volume of 116,184. The company has a 50-day moving average of $7.82 and a 200 day moving average of $9.87. The company has a market cap of $432.82 million, a P/E ratio of -4.10 and a beta of 0.38. Immatics has a 1 year low of $5.75 and a 1 year high of $16.30.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMTX. Sphera Funds Management LTD. purchased a new position in shares of Immatics during the 3rd quarter worth $10,401,000. Sofinnova Investments Inc. grew its holdings in shares of Immatics by 114.7% during the 4th quarter. Sofinnova Investments Inc. now owns 1,026,623 shares of the company’s stock worth $13,798,000 after purchasing an additional 548,407 shares during the period. Woodline Partners LP grew its holdings in shares of Immatics by 22.7% during the 4th quarter. Woodline Partners LP now owns 743,490 shares of the company’s stock worth $9,993,000 after purchasing an additional 137,570 shares during the period. Altium Capital Management LP grew its holdings in shares of Immatics by 39.0% during the 3rd quarter. Altium Capital Management LP now owns 478,987 shares of the company’s stock worth $6,227,000 after purchasing an additional 134,429 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Immatics by 150.5% during the 1st quarter. JPMorgan Chase & Co. now owns 202,640 shares of the company’s stock worth $1,619,000 after purchasing an additional 121,754 shares during the period. Institutional investors and hedge funds own 36.61% of the company’s stock.

About Immatics (Get Rating)

Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the discovery and development of T cell receptor (TCR) based 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 adoptive cell therapies (ACT) and antibody-like TCR Bispecifics.

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