Immatics (IMTX) Moves 23.2% Higher: Will This Strength Last?
Immatics (IMTX) shares ended the last trading session 23.2% higher at $9.61. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.8% loss over the past four weeks.
Last month, the FDA granted Regenerative Medicine Advanced Therapy (RMAT) designation to the company’s IMA203 TCR-T program for treating multiple PRAME-expressing tumors including cutaneous and uveal melanoma, ovarian cancer and other cancer types. This might have been driving the share price rally.
This company is expected to post quarterly loss of $0.43 per share in its upcoming report, which represents a year-over-year change of -34.4%. Revenues are expected to be $11.05 million, down 27.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Immatics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IMTX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Immatics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Adma Biologics (ADMA), finished the last trading session 3.7% higher at $3.65. ADMA has returned 0.6% over the past month.
Adma Biologics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.01. Compared to the company's year-ago EPS, this represents a change of +87.5%. Adma Biologics currently boasts a Zacks Rank of #3 (Hold).
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Immatics N.V. (IMTX) : Free Stock Analysis Report
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