IMTX Stock Analysis: Immatics | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 1.360m USD | 12M Return: 85.4% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 3.74M
Qual. Beats: 0
Rev. Trend: -13.4%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 7.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Immatics N.V. (IMTX) is a clinical-stage biopharmaceutical company headquartered in Tübingen, Germany, that develops T cell receptor (TCR)-based immunotherapies targeting solid tumors. The company operates through two treatment modalities: adoptive cell therapies (ACT) and TCR Bispecifics, both of which are active areas of immuno-oncology research. As with most clinical-stage biotechs, Immatics generates minimal product revenue and depends on capital markets and partnership milestones to fund development.
Its lead program, Anzu-cel (IMA203), is a PRAME-directed cell therapy in Phase 2 trials, supported by additional ACT candidates such as IMA203CD8 and IMA204 in Phase 1. Anzu-cel is also being combined with Modernas mRNA-4203 enhancer in a Phase 1 study, representing one of several pharma/biotech collaborations in its portfolio. The TCR Bispecific pipeline includes IMA401 and IMA402, both in early-stage clinical development.
Immatics maintains strategic collaborations with MD Anderson Cancer Center (cellular therapy development), Celgene/Bristol-Myers Squibb (adoptive cell therapies), and Genmab (T cell engaging bispecifics). These alliances are common in the biotechnology sector, where partnerships help offset high R&D costs and provide clinical and commercial expertise. Immatics trades on NASDAQ and has a small-cap market valuation typical of pre-revenue oncology biotechs.
- Anzu-cel Phase 2 PRAME cell therapy data readout approaches
- Cash burn rate and secondary offering dilution risk weigh on shares
- Genmab bispecific collaboration milestones and pipeline catalysts ahead
| Net Income: -214.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.35 > 0.02 and ΔFCF/TA -8.16 > 1.0 |
| NWC/Revenue: 1.15k% < 20% (prev 359.2%; Δ 793.8% < -1%) |
| CFO/TA -0.34 > 3% & CFO -184.1m > Net Income -214.4m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 8.78 > 1.5 & < 3 |
| Outstanding Shares: last quarter (134.6m) vs 12m ago 10.77% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 6.29% > 50% (prev 22.46%; Δ -16.17% > 0%) |
| Interest Coverage Ratio: -235.9 > 6 (EBIT TTM -214.4m / Interest Expense TTM 909k) |
| A: 0.79 (Total Current Assets 485.3m - Total Current Liabilities 55.3m) / Total Assets 543.8m |
| B: -1.55 (Retained Earnings -844.7m / Total Assets 543.8m) |
| C: -0.36 (EBIT TTM -214.4m / Avg Total Assets 592.8m) |
| D: 5.21 (Book Value of Equity 456.3m / Total Liabilities 87.6m) |
| Altman-Z'' = 3.16 = A |
| DSRI: 2.83 (Receivables 4.82m/6.58m, Revenue 37.3m/144.1m) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 2.16 (AQ_t 0.01 / AQ_t-1 0.00) |
| SGI: 0.26 (Revenue 37.3m / 144.1m) |
| TATA: -0.06 (NI -214.4m - CFO -184.1m) / TA 543.8m) |
| Beneish M = -1.37 (Cap -4..+1) = D |
As of July 08, 2026, the stock is trading at USD 10.26 with a total of 401,257 shares traded. Over the past week, the price has changed by +7.32%, over one month by +11.28%, over three months by +0.10% and over the past year by +85.37%.
Current recommended Stop Loss: 8.80 (which is 14.2% or 2.7 ATR below the current price).
Immatics has received a consensus analysts rating of 4.86. Therefore, it is recommended to buy IMTX.
- StrongBuy: 6
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 18.9 | 84.1% |
Market Cap EUR = 1.19b (1.36b USD * 0.8764 USD.EUR)
P/S = 36.4623
P/B = 2.6199
Revenue TTM = 37.3m EUR
EBIT TTM = -214.4m EUR
EBITDA TTM = -202.4m EUR
Long Term Debt = 12.5m EUR (estimated: total debt 15.1m - short term 2.61m)
Short Term Debt = 2.61m EUR (from shortTermDebt, last quarter)
Debt = 15.1m EUR (from shortLongTermDebtTotal, last quarter) (leases 15.1m already included)
Net Debt = -438.9m EUR (calculated: Debt 15.1m - CCE 454.0m)
Enterprise Value = 752.9m EUR (1.19b + Debt 15.1m - CCE 454.0m)
Interest Coverage Ratio = -235.9 (Ebit TTM -214.4m / Interest Expense TTM 909k)
EV/FCF = -3.99x (Enterprise Value 752.9m / FCF TTM -188.5m)
FCF Yield = -25.04% (FCF TTM -188.5m / Enterprise Value 752.9m)
FCF Margin = -505.4% (FCF TTM -188.5m / Revenue TTM 37.3m)
Net Margin = -574.9% (Net Income TTM -214.4m / Revenue TTM 37.3m)
Gross Margin = unknown ((Revenue TTM 37.3m - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = 1.38 (Enterprise Value 752.9m / Total Assets 543.8m)
Interest Expense / Debt = 6.02% (Interest Expense 909k / Debt 15.1m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -169.4m (EBIT -214.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 8.78 (Total Current Assets 485.3m / Total Current Liabilities 55.3m)
Debt / Equity = 0.03 (Debt 15.1m / totalStockholderEquity, last quarter 456.3m)
Debt / EBITDA = 2.17 (negative EBITDA) (Net Debt -438.9m / EBITDA -202.4m)
Debt / FCF = 2.33 (negative FCF - burning cash) (Net Debt -438.9m / FCF TTM -188.5m)
Total Stockholder Equity = 473.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -36.17% (Net Income -214.4m / Total Assets 543.8m)
RoE = -45.27% (Net Income TTM -214.4m / Total Stockholder Equity 473.6m)
RoCE = -44.11% (EBIT -214.4m / Capital Employed (Equity 473.6m + L.T.Debt 12.5m))
RoIC = -34.62% (negative operating profit) (NOPAT -169.4m / Invested Capital 489.3m)
WACC = 10.14% (E(1.19b)/V(1.21b) * Re(10.21%) + D(15.1m)/V(1.21b) * Rd(6.02%) * (1-Tc(0.21)))
Discount Rate = 10.21% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 95.56 | Cagr: 22.90%
[DCF] Fair Price = unknown (Cash Flow -188.5m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.44 | # QB: 0
Revenue Correlation: -13.43 | Revenue CAGR: -6.41% | SUE: -0.17 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.48 | Chg30d=N/A | Revisions=-18% | Analysts=8
EPS next Quarter (2026-09-30): EPS=-0.50 | Chg30d=N/A | Revisions=+0% | Analysts=8
EPS current Year (2026-12-31): EPS=-1.94 | Chg30d=+0.15% | Revisions=-42% | GrowthEPS=-3.8% | GrowthRev=-16.2%
EPS next Year (2027-12-31): EPS=-1.90 | Chg30d=-0.40% | Revisions=-42% | GrowthEPS=+2.1% | GrowthRev=+4.4%
[Analyst] Revisions Ratio: -32% (up=11, down=23)