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Immatics
(NASDAQ:IMTX)
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Rating:45Neutral
Price Target:
$9.00
▼(-4.56% Downside)
Action:Reiterated
Date:08/19/26
The score is primarily held back by weak financial performance driven by deep losses and heavy cash burn, despite a low-debt balance sheet. Technical indicators also lean bearish with the stock trading below major moving averages. Valuation is neutral because the negative P/E reflects current losses and there is no dividend yield data.
Positive Factors
Conservative leverage
Very low debt relative to equity limits solvency pressure and interest obligations while clinical programs advance. This gives Immatics greater financial flexibility than a similarly loss-making biotech carrying substantial leverage.
Negative Factors
Deep and volatile losses
Extremely negative margins show that current research and administrative spending substantially exceeds operating scale. The sharp swing from profitability in 2024 to large losses indicates that earnings power remains unstable and dependent on development outcomes.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative leverage
Very low debt relative to equity limits solvency pressure and interest obligations while clinical programs advance. This gives Immatics greater financial flexibility than a similarly loss-making biotech carrying substantial leverage.
Read all positive factors
Immatics (IMTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.41B
Dividend YieldN/A
Average Volume (3M)345.19K
Price to Earnings (P/E)―
Beta (1Y)1.47
Revenue Growth-65.40%
EPS Growth-164.71%
CountryUS
Employees678
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.59
Shares Outstanding149,635,900
10 Day Avg. Volume281,867
30 Day Avg. Volume345,185
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$17.70Price Target Upside87.70% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-1.83
Revenue Forecast (FY)$38.61M
Immatics Business Overview & Revenue Model
Company Description
Immatics N.V. is a clinical-stage biopharmaceutical firm dedicated to discovering and advancing T-cell receptor (TCR) based immunotherapies aimed at combating cancer, primarily within the United States. Its therapeutic strategy centers on targeted...
How the Company Makes Money
Immatics primarily makes money through (1) collaboration and partnership revenue and (2) other operating income, as it is a clinical-stage company and does not have a broad portfolio of marketed products.
Key revenue streams typically include:
- ...
Immatics Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
74
Positive
Cash Flow
27
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 41.86M | 48.27M | 155.84M | 54.00M | 172.83M | 34.76M |
| Gross Profit | 32.56M | 48.27M | 155.84M | 54.00M | 172.83M | 34.76M |
| EBITDA | -199.59M | -185.09M | 34.46M | -88.93M | 50.04M | -87.51M |
| Net Income | -207.58M | -196.45M | 15.22M | -94.65M | 27.70M | -93.33M |
Balance Sheet | ||||||
| Total Assets | 485.53M | 562.10M | 696.15M | 509.96M | 407.82M | 174.65M |
| Cash, Cash Equivalents and Short-Term Investments | 393.19M | 469.14M | 604.45M | 425.89M | 362.20M | 145.12M |
| Total Debt | 14.60M | 15.63M | 16.20M | 15.40M | 14.56M | 9.85M |
| Total Liabilities | 86.07M | 78.20M | 121.30M | 292.35M | 204.47M | 150.58M |
| Stockholders Equity | 399.46M | 483.89M | 574.84M | 217.62M | 203.35M | 24.06M |
Cash Flow | ||||||
| Free Cash Flow | -209.95M | -175.95M | -174.51M | -12.73M | 93.92M | -87.44M |
| Operating Cash Flow | -206.27M | -169.66M | -158.03M | 18.23M | 100.13M | -81.78M |
| Investing Cash Flow | 56.41M | 196.70M | -152.39M | -31.39M | -209.79M | 7.49M |
| Financing Cash Flow | 118.40M | 93.51M | 319.68M | 84.52M | 123.71M | -2.61M |
Immatics Technical Analysis
Positive
9.43
Price Trends
9.44
Negative
10.10
Negative
10.02
Negative
Market Momentum
-0.10
Positive
52.02
Neutral
49.27
Neutral
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 9.43 is above the 20-day moving average (MA) of 9.29, below the 50-day MA of 9.44, and below the 200-day MA of 10.02, indicating a neutral trend. The MACD of -0.10 indicates Positive momentum. The RSI at 52.02 is Neutral, neither overbought nor oversold. The STOCH value of 49.27 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
56 Neutral | $982.98M | -15.35 | -30.31% | ― | 24.39% | 21.06% | |
53 Neutral | $4.26B | -12.37 | -42.27% | ― | 23.86% | 19.60% | |
52 Neutral | $4.29B | -29.74 | -25.74% | ― | 121.47% | 36.95% | |
52 Neutral | $3.27B | -11.37 | -50.56% | ― | -100.00% | 18.12% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | $1.41B | -5.05 | -47.27% | ― | -65.40% | -164.71% | |
43 Neutral | $1.25B | -5.38 | -134.49% | ― | ― | 28.46% |
* Healthcare Sector Average
IMTX
Immatics
9.36
4.08
77.27%
GERN
Geron
1.53
0.10
6.99%
RLAY
Relay Therapeutics
19.42
15.73
426.29%
TNGX
Tango Therapeutics
25.28
18.46
270.67%
IMNM
Immunome
28.87
18.97
191.62%
SANA
Sana Biotechnology
4.09
1.08
35.88%
Immatics Corporate Events
Immatics Posts Interim Q2 2026 Results and Updates Investor Materials
Aug 18, 2026
Immatics N.V., headquartered in Tübingen, Germany, is a biotechnology company focused on developing T-cell–redirecting immunotherapies targeting cancer. Through its German and U.S. subsidiaries, the group advances a pipeline of product ...
Immatics Shareholders Approve All Proposals at June 18, 2026 AGM
Jun 18, 2026
Immatics N.V. held its Annual General Meeting of Shareholders on June 18, 2026 in Tübingen, where approximately 64.07% of the issued share capital was represented and no shareholders raised questions on the agenda items. The meeting proceeded...
Immatics Calls 2026 Annual General Meeting, Sets Record Date and Details New Incentive Plan
Jun 2, 2026
Immatics has convened its 2026 annual general meeting for June 18, 2026, to be held in Amsterdam, and has made the meeting notice, agenda and proxy materials available to shareholders. The record date for voting has been set at May 21, 2026, estab...
Immatics Showcases Strong Phase 1 Data for PRAME and MAGEA4/8 TCR Programs at ASCO 2026
Jun 1, 2026
On May 30–31, 2026, Immatics reported updated Phase 1 results for its IMA203CD8 PRAME-directed TCR T-cell therapy and its IMA401 TCR bispecific at the ASCO 2026 meeting, based on data cutoffs in March 2026. A single infusion of IMA203CD8 sho...
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.