Immatics (IMTX) AI Stock Analysis

• Market Cap: $814.39M
• Dividend Yield: N/A
• Average Volume (3M): 872.45K
• Price to Earnings (P/E): 53.8
• Beta (1Y): 1.73
• Revenue Growth: 83.36%
• EPS Growth: 22.27%
• Country: US
• Employees: 554
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.69
• Shares Outstanding: 121,550,170
• 10 Day Avg. Volume: 648,255
• 30 Day Avg. Volume: 872,447
• 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: 0.14
• Enterprise Value/Revenue: 0.87
• Enterprise Value/Gross Profit: 0.87
• Enterprise Value/Ebitda: -1.94
• 1Y Price Target: $14.00
• Price Target Upside: 108.96% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 48 Neutral
• Price Target: $6.00 ▼(-10.45% Downside)

Immatics' overall stock score is primarily influenced by its financial performance and valuation challenges. The company faces significant profitability and cash flow issues, reflected in a low financial performance score. Technical analysis provides mixed signals, with no strong momentum in either direction. The negative P/E ratio highlights valuation concerns, further impacting the overall score.

Positive Factors

Strong Balance Sheet

A strong balance sheet with low leverage provides financial stability and flexibility, enabling Immatics to invest in R&D and strategic initiatives.

Revenue Growth

High revenue growth suggests successful market penetration and product adoption, supporting long-term business sustainability and competitive positioning.

Shareholder Confidence

Shareholder approval of key resolutions reflects confidence in management and strategic direction, enhancing governance and long-term business prospects.

Negative Factors

Profitability Challenges

Persistent profitability issues can hinder reinvestment and growth, posing risks to financial health and long-term sustainability.

Cash Flow Issues

Cash flow inefficiencies limit operational flexibility and can affect the company's ability to fund R&D and strategic projects, impacting growth.

Operational Inefficiencies

Negative margins highlight operational inefficiencies, which can affect competitiveness and require strategic adjustments for improvement.

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 is experiencing financial volatility with declining revenues and profitability challenges. The balance sheet remains strong with low leverage, but cash flow issues persist. The company needs to address operational inefficiencies and improve cash flow management to enhance overall financial health.

Income Statement

Immatics shows a volatile revenue trajectory with a recent decline in revenue growth rate by 9.73% in TTM. The company has consistently high gross profit margins, but negative net profit margins indicate ongoing profitability challenges. EBIT and EBITDA margins have also turned negative, reflecting operational inefficiencies.

Balance Sheet

The company maintains a strong equity position with a low debt-to-equity ratio of 0.034 in TTM, indicating low financial leverage. However, the return on equity is negative, suggesting inefficiencies in generating returns from equity investments. The equity ratio remains stable, supporting financial stability.

Cash Flow

Immatics faces cash flow challenges with negative operating and free cash flows in TTM. Despite a slight improvement in free cash flow growth, the operating cash flow to net income ratio is negative, highlighting cash flow inefficiencies. The free cash flow to net income ratio is slightly above 1, indicating some alignment between cash flow and reported earnings.

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: Positive
• Last Price: 6.70
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMTX, the sentiment is Positive. The current price of 6.7 is above the 20-day moving average (MA) of 5.75, above the 50-day MA of 6.04, and above the 200-day MA of 5.58, indicating a bullish trend. The MACD of 0.12 indicates Negative momentum. The RSI at 64.97 is Neutral, neither overbought nor oversold. The STOCH value of 80.24 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IMTX.

Immatics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IMTX	48 Neutral	$814.39M	53.85	-17.34%	―	83.36%	22.27%
KURA	47 Neutral	716.08M	-3.65	0.00%	―	0.00%	-1.26%
SVRA	46 Neutral	610.11M	-6.88	0.00%	―	0.00%	-21.05%
QURE	43 Neutral	761.00M	-3.54	3547.93%	―	-48.25%	33.77%
BCYC	41 Neutral	480.29M	-1.97	-36.23%	―	-51.13%	7.57%
COGT	37 Underperform	1.67B	-4.94	0.00%	―	0.00%	2.25%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Immatics Corporate Events

Immatics Reports Q2 2025 Financial Results and Business Update

On August 13, 2025, Immatics N.V. released its financial results for the second quarter of 2025, revealing a significant increase in research and development expenses compared to the previous year. The company reported a substantial operating loss, reflecting its continued investment in advancing its pipeline of cancer immunotherapies. Despite the financial losses, Immatics remains committed to its strategic goals and continues to update stakeholders with its latest investor presentation.

Immatics N.V. Shareholders Approve Key Resolutions at June 2025 AGM

On June 18, 2025, Immatics N.V. held its Annual General Meeting of Shareholders, where all proposed agenda items were approved. Key decisions included the adoption of the 2024 annual accounts, discharge of board members from liability, reappointment of non-executive directors, and approval of the 2025 stock option and incentive plan. These approvals reflect shareholder confidence in the company’s strategic direction and governance, potentially strengthening its position in the biotechnology sector.