Immatics (IMTX - Free Report) shares soared 5.2% in the last trading session to close at $8.57. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.3% gain over the past four weeks.
Shares surged as investors are most likely encouraged by the pipeline progress. The company is developing T cell-redirecting cancer immunotherapies which promise potential. Moreover, the collaboration with a big biotech like Bristol Myers Squibb to develop multiple off-the-shelf TCR-T and/or CAR-T programs based on its allogeneic gamma-delta cell therapy platform ACTallo is positive.
This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of +128.3%. Revenues are expected to be $42.27 million, up 576.2% 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 been revised 134.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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. Vir Biotechnology, Inc. (VIR - Free Report) , another stock in the same industry, closed the last trading session 4.1% lower at $24.84. VIR has returned 5.9% in the past month.
Vir Biotechnology, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.05. Compared to the company's year-ago EPS, this represents a change of -110.9%. Vir Biotechnology, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Immatics (IMTX - Free Report) shares soared 5.2% in the last trading session to close at $8.57. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.3% gain over the past four weeks.
Shares surged as investors are most likely encouraged by the pipeline progress. The company is developing T cell-redirecting cancer immunotherapies which promise potential. Moreover, the collaboration with a big biotech like Bristol Myers Squibb to develop multiple off-the-shelf TCR-T and/or CAR-T programs based on its allogeneic gamma-delta cell therapy platform ACTallo is positive.
This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of +128.3%. Revenues are expected to be $42.27 million, up 576.2% 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 been revised 134.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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. Vir Biotechnology, Inc. (VIR - Free Report) , another stock in the same industry, closed the last trading session 4.1% lower at $24.84. VIR has returned 5.9% in the past month.
Vir Biotechnology, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.05. Compared to the company's year-ago EPS, this represents a change of -110.9%. Vir Biotechnology, Inc. currently boasts a Zacks Rank of #3 (Hold).
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
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