Immatics (IMTX)
NASDAQ:IMTX
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Immatics
(NASDAQ:IMTX)
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Rating:51Neutral
Price Target:
$11.00
▼(-1.52% Downside)
Action:ReiteratedDate:03/08/26
The score is held back primarily by weak and volatile financial performance—especially ongoing cash burn and the sharp 2025 downturn—despite a comparatively strong, low-leverage balance sheet. Technicals are broadly neutral and do not offset the fundamental risk, while valuation support is limited given losses and no dividend.
Positive Factors
Proprietary discovery platform
The XPRESIDENT platform is a durable competitive asset that systematically identifies HLA-presented tumor peptides, accelerating target discovery and enabling multiple TCR and bispecific programs. That improves hit rates, supports portfolio breadth, and reduces early-stage target risk over the next several years.
Negative Factors
Persistent cash burn
Sustained negative operating and free cash flow undermines self-funding capacity and increases the likelihood of future equity or partnership financings. That can dilute shareholders, constrain discretionary R&D/commercial spend, and force prioritization among programs during critical late-stage development.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary discovery platform
The XPRESIDENT platform is a durable competitive asset that systematically identifies HLA-presented tumor peptides, accelerating target discovery and enabling multiple TCR and bispecific programs. That improves hit rates, supports portfolio breadth, and reduces early-stage target risk over the next several years.
Read all positive factors
Immatics (IMTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.45B
Dividend YieldN/A
Average Volume (3M)506.26K
Price to Earnings (P/E)―
Beta (1Y)1.33
Revenue Growth-67.98%
EPS Growth-2353.85%
CountryUS
Employees554
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.61
Shares Outstanding134,063,830
10 Day Avg. Volume297,968
30 Day Avg. Volume506,262
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)2.26
Price to Sales (P/S)22.65
P/FCF Ratio-6.21
Enterprise Value/Market Cap0.66
Enterprise Value/Revenue19.64
Enterprise Value/Gross Profit19.64
Enterprise Value/Ebitda-4.91
Forecast
1Y Price Target
$20.17Price Target Upside80.54% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-1.54
Revenue Forecast (FY)$37.91M
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...
How the Company Makes Money
Immatics does not primarily generate revenue from product sales because it is a clinical-stage company; instead, it makes money mainly through collaboration and license arrangements with larger biopharmaceutical partners. Revenue is typically gene...
Immatics Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
76
Positive
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 48.27M | 155.84M | 54.00M | 172.83M | 34.76M |
| Gross Profit | 48.27M | 155.84M | -64.67M | 66.05M | -52.81M |
| EBITDA | -167.47M | 34.46M | -88.93M | 50.04M | -87.30M |
| Net Income | -188.69M | 15.22M | -96.99M | 37.51M | -95.06M |
Balance Sheet | |||||
| Total Assets | 562.10M | 696.15M | 509.96M | 407.82M | 174.65M |
| Cash, Cash Equivalents and Short-Term Investments | 469.14M | 604.45M | 425.89M | 362.20M | 145.12M |
| Total Debt | 15.63M | 16.20M | 15.40M | 14.56M | 9.85M |
| Total Liabilities | 78.20M | 121.30M | 284.88M | 194.66M | 150.58M |
| Stockholders Equity | 483.89M | 574.84M | 225.08M | 213.16M | 24.06M |
Cash Flow | |||||
| Free Cash Flow | -175.95M | -174.51M | -12.73M | 93.92M | -87.44M |
| Operating Cash Flow | -169.66M | -158.03M | 18.23M | 100.13M | -81.78M |
| Investing Cash Flow | 196.70M | -152.39M | -31.39M | -209.79M | 7.49M |
| Financing Cash Flow | 93.51M | 319.68M | 84.52M | 123.71M | -2.61M |
Immatics Technical Analysis
Positive
11.17
Price Trends
10.03
Positive
10.03
Positive
8.80
Positive
Market Momentum
0.32
Negative
64.97
Neutral
87.84
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 11.17 is above the 20-day moving average (MA) of 10.18, above the 50-day MA of 10.03, and above the 200-day MA of 8.80, indicating a bullish trend. The MACD of 0.32 indicates Negative momentum. The RSI at 64.97 is Neutral, neither overbought nor oversold. The STOCH value of 87.84 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IMTX.
Immatics Risk Analysis
Immatics disclosed 84 risk factors in its most recent earnings report. Immatics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Changes in the tax laws, or in their interpretation or enforcement, could have a material adverse effect on our financial condition and results of operations. Q4, 2023
Immatics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $3.03B | -10.13 | -50.30% | ― | 48.29% | 28.08% | |
54 Neutral | $1.01B | -10.26 | -34.23% | ― | 138.82% | 52.84% | |
52 Neutral | $2.41B | -5.25 | -43.17% | ― | 53.45% | 32.76% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $1.45B | -5.79 | -39.69% | ― | -67.98% | -2353.85% | |
46 Neutral | $2.57B | -8.83 | -57.61% | ― | -23.23% | 53.10% | |
44 Neutral | $872.65M | -4.22 | -141.99% | ― | ― | 16.65% |
* Healthcare Sector Average
IMTX
Immatics
10.79
5.69
111.57%
GERN
Geron
1.58
0.16
11.27%
RLAY
Relay Therapeutics
12.72
9.40
283.13%
TNGX
Tango Therapeutics
20.98
19.56
1377.46%
IMNM
Immunome
22.73
14.23
167.41%
SANA
Sana Biotechnology
3.27
1.40
74.87%
Immatics Corporate Events
Immatics Secures Four High-Profile Oral Slots for PRAME and Bispecific Programs at 2026 ASCO
Apr 21, 2026
On April 21, 2026, Immatics announced that all four abstracts it submitted to the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting have been selected for oral presentations in Chicago, underscoring strong scientific visibility for ...
Immatics Highlights PRAME-Targeted Cell Therapy Remission in Pediatric Kidney Cancer, Plans Pediatric Trial Expansion
Apr 17, 2026
On April 17, 2026, Immatics reported that an individual experimental PRAME-directed TCR T-cell therapy, using its IMA203CD8-encoded receptor, induced a deep and durable remission in a 17-year-old with advanced, metastatic nephroblastoma treated at...
Immatics Confirms 2027 Anzu-cel Launch Timeline as PRAME Franchise and Cash Runway Advance
Mar 5, 2026
On March 5, 2026, Immatics reported its full-year 2025 results and outlined progress across its PRAME-franchise programs, led by anzu-cel, which is in the global Phase 3 SUPRAME trial for previously treated advanced cutaneous melanoma and holds U....
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.