Immatics NVNASDAQ: IMTX

Immatics (IMTX) reported a quarterly loss of $0.04 per share, beating the Zacks Consensus Estimate of a loss of $0.74. This is an improvement from the loss of $0.28 per share reported in the same quarter last year.

In 2020, Immatics, a German biotech company, successfully listed on Nasdaq by merging with Arya Sciences Acquisition Corp, a SPAC backed by Perceptive Advisors. Specializing in T-cell receptor-based immunotherapies for hard-to-treat solid tumors, Immatics has collaborations with Bristol Myers Squibb, Moderna, and Editas, and is progressing several candidates through clinical trials.

Immatics (IMTX) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

Immatics (IMTX) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

Immatics showcases a robust financial position and promising IMA203 TCR-T cell therapy for oncology with impressive safety and efficacy data. Risks include high competition in T-cell therapies, potential dilution from EPS of -$0.34, and an 11.11% short interest implying some bearish sentiment. Investment Recommendation: "Buy" with close monitoring of the 4Q 2023 clinical update; offers high-reward potential but be prepared for short-term volatility.

Immatics NV's shares rose Monday after it announced a collaboration with Moderna Therapeutics Inc (NASDAQ:MRNA) to pioneer novel and transformative therapies for cancer patients with high unmet medical need. Under the agreement, the German drug developer will receive an upfront payment of $120 million.

Vaccine maker Moderna said on Monday it had struck a deal with Immatics for developing cancer vaccines and therapies and would pay the drug developer $120 million in cash and additional milestone payments.

Immatics (IMTX) came out with a quarterly loss of $0.35 per share versus the Zacks Consensus Estimate of a loss of $0.34. This compares to loss of $0.23 per share a year ago.

Immatics (IMTX) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.