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Immatics (IMTX) Moves 11.6% Higher: Will This Strength Last?
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Immatics (IMTX - Free Report) shares rallied 11.6% in the last trading session to close at $11.26. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 21.5% loss over the past four weeks.
The stock rallied driven by optimism over the company’s encouraging clinical data from the phase Ia dose escalation part of the study on IMA203 monotherapy and initial data from the first 5 patients in the ongoing phase Ib dose expansion cohort A (monotherapy). The phase I study is evaluating IMA203 for treating recurrent and/or refractory solid cancer patients utilizing TCR-T cells directed against an HLA-A*02-presented peptide derived from PRAME, that is frequently expressed across several solid cancer indications.
This company is expected to post quarterly loss of $0.31 per share in its upcoming report, which represents a year-over-year change of +39.2%. Revenues are expected to be $13.36 million, up 75.8% 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.
Immatics is part of the Zacks Medical - Biomedical and Genetics industry. Anika Therapeutics (ANIK - Free Report) , another stock in the same industry, closed the last trading session 1.5% lower at $24.17. ANIK has returned 6.9% in the past month.
For Anika, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.24. This represents a change of -700% from what the company reported a year ago. Anika currently has a Zacks Rank of #3 (Hold).
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Immatics (IMTX) Moves 11.6% Higher: Will This Strength Last?
Immatics (IMTX - Free Report) shares rallied 11.6% in the last trading session to close at $11.26. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 21.5% loss over the past four weeks.
The stock rallied driven by optimism over the company’s encouraging clinical data from the phase Ia dose escalation part of the study on IMA203 monotherapy and initial data from the first 5 patients in the ongoing phase Ib dose expansion cohort A (monotherapy). The phase I study is evaluating IMA203 for treating recurrent and/or refractory solid cancer patients utilizing TCR-T cells directed against an HLA-A*02-presented peptide derived from PRAME, that is frequently expressed across several solid cancer indications.
This company is expected to post quarterly loss of $0.31 per share in its upcoming report, which represents a year-over-year change of +39.2%. Revenues are expected to be $13.36 million, up 75.8% 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. Anika Therapeutics (ANIK - Free Report) , another stock in the same industry, closed the last trading session 1.5% lower at $24.17. ANIK has returned 6.9% in the past month.
For Anika, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.24. This represents a change of -700% from what the company reported a year ago. Anika currently has a Zacks Rank of #3 (Hold).