Immatics (IMTX) Moves 27.5% Higher: Will This Strength Last?
Immatics IMTX shares ended the last trading session 27.5% higher at $9.33. 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 6.2% gain over the past four weeks.
Share prices surged as the company announced positive interim data from one patient cohort of an ongoing phase Ib study evaluating IMA203 in treating solid cancers. The data indicated that IMA203 showed a high rate of deep and durable objective responses, with a confirmed objective response rate of 67%, across multiple tumor types.
This company is expected to post quarterly loss of $0.35 per share in its upcoming report, which represents a year-over-year change of -123%. Revenues are expected to be $10.29 million, down 91.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Immatics is part of the Zacks Medical - Biomedical and Genetics industry. Ikena Oncology, Inc. IKNA, another stock in the same industry, closed the last trading session 4.9% higher at $5.74. IKNA has returned 55.8% in the past month.
For Ikena Oncology, Inc. , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.48. This represents a change of -2.1% from what the company reported a year ago. Ikena Oncology, Inc. currently has a Zacks Rank of #2 (Buy).
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Immatics N.V. (IMTX) : Free Stock Analysis Report
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