Immatics (IMTX) AI Stock Analysis

• Market Cap: $635.71M
• Dividend Yield: N/A
• Average Volume (3M): 495.28K
• Price to Earnings (P/E): 53.8
• Beta (1Y): 1.70
• Revenue Growth: 83.36%
• EPS Growth: 22.27%
• Country: US
• Employees: 554
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.68
• Shares Outstanding: 121,550,170
• 10 Day Avg. Volume: 805,719
• 30 Day Avg. Volume: 495,282
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.18
• Enterprise Value/Revenue: 0.87
• Enterprise Value/Gross Profit: 0.87
• Enterprise Value/Ebitda: -1.94
• 1Y Price Target: $13.67
• Price Target Upside: 161.38% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 45 Neutral
• Price Target: $5.50 ▲(5.16% Upside)

Immatics faces significant financial challenges with declining revenues and profitability issues, which are the most impactful factors. The technical analysis also indicates bearish trends, further weighing down the score. Valuation metrics are poor due to negative earnings and lack of dividends, contributing to a lower overall score.

Positive Factors

Clinical Developments

IMTX presented updated Phase Ib data for IMA203, which is viewed as encouraging and further supports its development in melanoma.

Financial Stability

IMTX ended with a substantial amount of $560.5M in cash and equivalents, ensuring a cash runway into the second half of 2027.

Pipeline Progress

IMTX is on track for multiple data updates in its pipeline, including IMA203, IMA203CD8, IMA402, and IMA401.

Negative Factors

Dose Escalation Study

The dose escalation study for IMA402 (PRAME TCR bispecific) continues to progress to DL10 (8 mg) with maximal tolerated dose not yet reached.

Trial Enrollment

The Phase III SUPRAME study evaluating IMA203 in cutaneous melanoma has started to enroll patients and remains on track to complete enrollment by the end of 2026.

Immatics Business Overview & Revenue Model

Company Description

Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the discovery and development of T cell receptor (TCR) based immunotherapies for the treatment of cancer in the United States. The company is developing targeted immunotherapies with a focus on treating solid tumors through two distinct treatment modalities, such as adoptive cell therapies (ACT) and antibody-like TCR Bispecifics. Its ACTengine product candidates are in Phase I clinical trials, which include IMA201 that targets melanoma-associated antigen 4 or 8 in patients with solid tumors; IMA202 that targets melanoma-associated antigen 1 in patients with various solid tumors, including squamous non-small cell lung carcinoma and hepatocellular carcinoma; and IMA203 that targets preferentially expressed antigen in melanoma in adult patients with relapsed and/or refractory solid tumors, as well as IMA204, which is in preclinical studies that targets tumor stroma cell. The company's TCR Bispecifics product candidates, which are in preclinical studies include IMA401, a cancer testis antigen for the treatment of solid tumors; and IMA402 for the treatment of solid tumors. It also develops IMA101 for the treatment of cancer; and IMA301, an allogenic cellular therapy product candidate. The company has a strategic collaboration agreement with GlaxoSmithKline Intellectual Property Development Limited to develop novel adoptive cell therapies targeting multiple cancer indications; MD Anderson Cancer Center to develop multiple T cell and TCR-based adoptive cellular therapies; Celgene Switzerland LLC to develop novel adoptive cell therapies targeting multiple cancers; and Genmab A/S to develop T cell engaging bispecific immunotherapies targeting multiple cancer indications. Immatics N.V. is headquartered in Tübingen, Germany.

How the Company Makes Money

Immatics generates revenue through strategic collaborations and partnerships with pharmaceutical and biotechnology companies. These partnerships often involve upfront payments, milestone payments, and potential royalties based on the development, commercialization, and licensing of its immunotherapy products. Immatics also invests in the research and development of its pipeline products, aiming to bring them to market either independently or through partnerships, contributing to future revenue streams. Additionally, government grants and funding for research initiatives may supplement its revenue generation efforts.

Immatics Financial Statement Overview

Summary

Immatics demonstrates potential with strong revenue growth in certain periods and a solid equity position. However, persistent profitability and cash flow challenges pose risks. The company's reliance on external financing could impact long-term sustainability if operational improvements are not realized.

Income Statement

Immatics has shown volatile revenue growth, with a significant increase from 2023 to 2024 but a decline in TTM. The gross profit margin is strong, indicating effective cost management, but the company struggles with negative net and EBIT margins, highlighting ongoing profitability challenges.

Balance Sheet

The company maintains a robust equity position with an impressive equity ratio, suggesting stability. The debt-to-equity ratio is low, indicating conservative leverage practices. However, the company has experienced fluctuations in stockholders' equity, which may impact future stability.

Cash Flow

Immatics faces challenges with negative operating and free cash flows, indicating cash management issues. The operating cash flow to net income ratio suggests inefficiencies in converting income to cash. Positive financing cash flow reflects a reliance on external financing.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	130.13M	155.84M	54.00M	172.83M	34.76M	31.25M
Gross Profit	130.13M	155.84M	-64.67M	66.05M	-52.81M	-35.83M
EBITDA	-58.05M	34.46M	-88.93M	50.04M	-83.56M	-64.44M
Net Income	-73.91M	15.22M	-96.99M	37.51M	-95.06M	-229.35M
Balance Sheet
Total Assets	567.30M	696.15M	509.96M	407.82M	174.65M	254.65M
Cash, Cash Equivalents and Short-Term Investments	478.19M	604.45M	425.89M	362.20M	145.12M	231.98M
Total Debt	17.12M	16.20M	15.40M	14.56M	9.85M	6.19M
Total Liabilities	102.73M	121.30M	284.88M	194.66M	150.58M	150.39M
Stockholders Equity	464.57M	574.84M	225.08M	213.16M	24.06M	104.26M
Cash Flow
Free Cash Flow	-174.69M	-174.51M	-12.73M	93.92M	-87.44M	-93.13M
Operating Cash Flow	-165.47M	-158.03M	18.23M	100.13M	-81.78M	-85.61M
Investing Cash Flow	130.66M	-152.39M	-31.39M	-209.79M	7.49M	-15.95M
Financing Cash Flow	144.14M	319.68M	84.52M	123.71M	-2.61M	207.88M

Immatics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 5.23
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMTX, the sentiment is Negative. The current price of 5.23 is below the 20-day moving average (MA) of 6.10, below the 50-day MA of 5.99, and below the 200-day MA of 5.79, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 37.01 is Neutral, neither overbought nor oversold. The STOCH value of 13.53 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IMTX.

Immatics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
QURE	54 Neutral	$853.18M	―	-427.47%	―	-48.25%	33.77%
Sector *	51 Neutral	$7.78B	-0.06	-40.08%	2.29%	21.32%	-1.82%
KURA	47 Neutral	$664.00M	―	-51.11%	―	―	-1.26%
SVRA	46 Neutral	$542.71M	―	-99.30%	―	―	-21.05%
BCYC	45 Neutral	$493.09M	―	-31.58%	―	-51.13%	7.57%
IMTX	45 Neutral	$635.71M	53.85	-17.34%	―	83.36%	22.27%
COGT	37 Underperform	$1.69B	―	-107.55%	―	―	2.25%