Immatics N.V. logo

Immatics N.V.

IMTX

NASDAQHealthcareBiotechnology

Previous close

$8.93

+$0.38 · +4.44%

Aug 21, 4:00 PM ET

IMTX company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Sell

Trim exposure — unfavorable risk-reward

Valuation

2

Overpriced

Momentum

37

Weakening

Sentiment

43

Mixed

Risk resilience

45

Elevated Risk

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Company profile

Company website

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 immunotherapies for solid tumors, utilizing two distinct approaches: adoptive cell therapies (ACT) and antibody-like TCR Bispecifics. The company's ACTengine™ portfolio features several candidates in Phase I clinical trials. These include IMA201, designed to recognize melanoma-associated antigens 4 or 8 in solid tumor patients; IMA202, which targets melanoma-associated antigen 1 across various solid tumor types, such as squamous non-small cell lung carcinoma and hepatocellular carcinoma; and IMA203, aimed at preferentially expressed antigen in melanoma in adult patients with recurrent or treatment-resistant solid tumors. Additionally, IMA204, currently in preclinical stages, focuses on targeting tumor stroma cells. In its preclinical TCR Bispecifics pipeline, Immatics is advancing IMA401, which targets cancer testis antigens for solid tumor indications, and IMA402, also under investigation for solid tumor therapies. Other programs include IMA101 for cancer treatment and IMA301, an allogeneic cellular therapy candidate. Immatics has established strategic partnerships to bolster its development efforts. These include collaborations with GlaxoSmithKline Intellectual Property Development Limited for novel adoptive cell therapies across various cancer indications; MD Anderson Cancer Center for multiple T-cell and TCR-based adoptive cellular therapies; Celgene Switzerland LLC for additional novel adoptive cell therapies; and Genmab A/S to develop T-cell engaging bispecific immunotherapies for diverse cancer indications. The company's headquarters are situated in Tübingen, Germany.

Industry
Biotechnology
Sector
Healthcare
Headquarters
DE
CEO
Harpreet Singh
Listed since
Dec 12, 2018
Employees
589

Market position

Day range

Current $8.93

52-week range

Current $8.93

Open
$8.61
Previous close
$8.55
Volume
611.32K
1.31× average
Average volume
466.5K
Average daily volume
Market cap
1.2B USD
Beta
1.32
Market reference 1
50-day average
$9.4466
-5.47% below average
200-day average
$10.0218
-10.89% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
763.23M EUR
EV / EBITDA
-4.12×
Earnings yield
-17.97%
Free cash flow yield
-16.09%

Profitability & efficiency

Return on equity
-40.60%
Return on assets
-34.95%
Return on invested capital
-34.53%

Financial health

Current ratio
11.72×
Altman Z-score
4.1
Piotroski F-score
1 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends151%-52%-255%-458%Gross margin, FY2021: -151.92%Gross margin, FY2022: 38.22%Gross margin, FY2023: -119.76%Gross margin, FY2024: 100.00%Gross margin, FY2025: 100.00%Operating margin, FY2021: -248.24%Operating margin, FY2022: 17.33%Operating margin, FY2023: -188.39%Operating margin, FY2024: -24.78%Operating margin, FY2025: -377.11%Net margin, FY2021: -273.45%Net margin, FY2022: 21.71%Net margin, FY2023: -179.63%Net margin, FY2024: 9.77%Net margin, FY2025: -407.01%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 -151.92%. Gross margin FY2022 38.22%. Gross margin FY2023 -119.76%. Gross margin FY2024 100.00%. Gross margin FY2025 100.00%. Operating margin FY2021 -248.24%. Operating margin FY2022 17.33%. Operating margin FY2023 -188.39%. Operating margin FY2024 -24.78%. Operating margin FY2025 -377.11%. Net margin FY2021 -273.45%. Net margin FY2022 21.71%. Net margin FY2023 -179.63%. Net margin FY2024 9.77%. Net margin FY2025 -407.01%.

Income trends

Revenue

48.27M EUR-69.03%

Operating income

−182.02M EUR-371.36%

Net income

−196.45M EUR−211.67M EUR
Income trends across reported periods209.76M EUR62.05M EUR−85.66M EUR−233.37M EURRevenue, FY2021: 34.76M EURRevenue, FY2022: 172.83M EURRevenue, FY2023: 54M EURRevenue, FY2024: 155.84M EURRevenue, FY2025: 48.27M EUROperating income, FY2021: −86.29M EUROperating income, FY2022: 29.95M EUROperating income, FY2023: −101.73M EUROperating income, FY2024: −38.62M EUROperating income, FY2025: −182.02M EURNet income, FY2021: −95.06M EURNet income, FY2022: 37.51M EURNet income, FY2023: −96.99M EURNet income, FY2024: 15.22M EURNet income, FY2025: −196.45M EURFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 34.76M EUR. Revenue FY2022 172.83M EUR. Revenue FY2023 54M EUR. Revenue FY2024 155.84M EUR. Revenue FY2025 48.27M EUR. Operating income FY2021 −86.29M EUR. Operating income FY2022 29.95M EUR. Operating income FY2023 −101.73M EUR. Operating income FY2024 −38.62M EUR. Operating income FY2025 −182.02M EUR. Net income FY2021 −95.06M EUR. Net income FY2022 37.51M EUR. Net income FY2023 −96.99M EUR. Net income FY2024 15.22M EUR. Net income FY2025 −196.45M EUR.
Metric (EUR)FY2025FY2024FY2023FY2022FY2021
Revenue48.27M EUR155.84M EUR54M EUR172.83M EUR34.76M EUR
Cost of goods sold118.66M EUR106.78M EUR87.57M EUR
Gross profit48.27M EUR155.84M EUR−64.67M EUR66.05M EUR−52.81M EUR
Research and development183.83M EUR148.08M EUR118.66M EUR106.78M EUR87.57M EUR
Selling, general, and administrative51.18M EUR46.45M EUR38.2M EUR36.12M EUR33.81M EUR
Operating expenses230.28M EUR194.45M EUR155.72M EUR142.88M EUR121.05M EUR
Interest income17.18M EUR25M EUR13.85M EUR2.48M EUR133K EUR
Interest expense946K EUR886K EUR831K EUR1.04M EUR566K EUR
Depreciation and amortization12.4M EUR12.23M EUR7.23M EUR6.84M EUR5.47M EUR
Operating income−182.02M EUR−38.62M EUR−101.73M EUR29.95M EUR−86.29M EUR
Net income−196.45M EUR15.22M EUR−96.99M EUR37.51M EUR−95.06M EUR

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
64%
7 beats, 4 misses, 0 met estimates
Average EPS surprise
+35.42%
11 comparable reports
Latest EPS result
-0.53
Estimate -0.47 · Miss by 11.64%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.570.13-0.31-0.75Q1 '25BeatQ2 '25BeatQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 27, 2025: actual 0.48, estimate -0.33, surprise +245.45%, Beat. Q2 2025, reported May 13, 2025: actual -0.35, estimate -0.39, surprise +10.26%, Beat. Q3 2025, reported Aug 13, 2025: actual -0.66, estimate -0.38, surprise -73.68%, Miss. Q4 2025, reported Nov 17, 2025: actual -0.49, estimate -0.439, surprise -11.53%, Miss. Q1 2026, reported Mar 5, 2026: actual -0.34, estimate -0.48, surprise +29.17%, Beat. Q2 2026, reported May 12, 2026: actual -0.5, estimate -0.42, surprise -19.05%, Miss. Q3 2026, reported Aug 18, 2026: actual -0.53, estimate -0.475, surprise -11.64%, Miss. Q4 2026, reported Nov 17, 2026: actual —, estimate -0.58, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates62.46M43.22M23.98M4.74MQ1 '25BeatQ2 '25BeatQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 27, 2025: actual 58.25M USD, estimate 23.72M USD, surprise +145.60%, Beat. Q2 2025, reported May 13, 2025: actual 20.37M USD, estimate 13.51M USD, surprise +50.79%, Beat. Q3 2025, reported Aug 13, 2025: actual 5.58M USD, estimate 12.53M USD, surprise -55.48%, Miss. Q4 2025, reported Nov 17, 2025: actual 6.08M USD, estimate 10.71M USD, surprise -43.26%, Miss. Q1 2026, reported Mar 5, 2026: actual 22.32M USD, estimate 11.26M USD, surprise +98.16%, Beat. Q2 2026, reported May 12, 2026: actual 8.78M USD, estimate 9.79M USD, surprise -10.34%, Miss. Q3 2026, reported Aug 18, 2026: actual 11.88M USD, estimate 12.42M USD, surprise -4.40%, Miss. Q4 2026, reported Nov 17, 2026: actual —, estimate 12.7M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Recent analyst actions

5 institutions
GuggenheimmaintainBuy
Cantor FitzgeraldmaintainOverweight
B of A SecuritiesmaintainBuy

IMTX peers

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Funds reporting this stock among their holdings, ordered by reported position size.

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