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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#1718
Positioning
Market Dominance
Manufacturing
Pharmaceutical Products
$602M
Harpreet Singh-Jasuja
Immatics N.V. focuses on the discovery and development of T cell receptor (TCR) based immunotherapies for the treatment of cancer in the United States. 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. The company has a strategic collaboration agreement with GlaxoSmithKline Intellectual Property Development Limited.
Headcount
260
HQ Base
Pending Verification
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X-AXIS: EV/EBITDA (LOWER = CHEAPER) | Y-AXIS: ROE (HIGHER = ELITE) | RED CIRCLE = IMTX ANALYSIS TARGET
| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UL UNILEVER PLC | 78 | 96 | 98 | 59 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$ASML ASML HOLDING NV | 77 | 89 | 86 | 83 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$ESLT ELBIT SYSTEMS LTD | 76 | 81 | 87 | 85 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$MT ArcelorMittal | 75 | 71 | 98 | 85 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$AMAT APPLIED MATERIALS INC /DE | 75 | 85 | 87 | 84 | 20.9x | 13.6x | 32.9% | 20.5% | 48.8% | 30.6% | 24.4% | 7.7% | 0.9% | 32.0x | $148.6B | VS | |
$SIMO Silicon Motion Technology CORP | 75 | 84 | 86 | 85 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$CODA Coda Octopus Group, Inc. | 74 | 83 | 90 | 79 | 16.3x | 11.9x | 7.4% | 7.5% | 68.3% | 19.5% | 18.2% | 29.0% | 0.0% | 0.0x | $84M | VS | |
$GSK GSK plc | 74 | 84 | 90 | 70 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$EFXT Enerflex Ltd. | 74 | 80 | 91 | 83 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$BUD Anheuser-Busch InBev SA/NV | 74 | 84 | 97 | 63 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$IMTX Immatics N.V. | 52 | 53 | 47 | 74 | 68.3x | 8.0x | 10.6% | 8.7% | 100.0% | -24.8% | 9.8% | 1.7% | 0.0% | 2.0x | $602M | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -1.9% | 0.9% | 44.1% | 2.5% | 1.0% | 6.7% | 0.0% | 0.2x | - | REF |
Immatics N.V. (IMTX) receives a "Hold" rating with a composite score of 51.8/100. It ranks #1718 out of 7,333 stocks in our coverage universe and carries a 3-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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Outperforming peers — winners tend to keep winning over 3-12 months
Fair valuation relative to peers
Average quality profile
Average volatility — neutral timing signal
Aggressive spending — empire-building risk, dilutive growth
Mid-range overall rating
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Relative valuation derived from Manufacturing sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
Projection based on user-defined inputs. Re-calculated daily against current market data.
Reverse DCF Framework — Mauboussin Methodology
Institutional-grade Reverse DCF analysis. This model identifies the growth hurdles embedded in current market prices. When implied growth is significantly lower than historical or projected rates, a margin of safety may exist. Re-audited daily.
No analyst ratings for IMTX.
View All Ratings| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 53 | 49 | +4NEUTRAL |
| MOMENTUM | 74 | 79 | -5NEUTRAL |
| VALUATION | 47 | 36 | +11ALPHA |
| INVESTMENT | 28 | 32 | -4NEUTRAL |
| STABILITY | 45 | 36 | +9ALPHA |
| SHORT INT | 17 | 2 | +15ALPHA |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROE proxy 10.6% (sector -1.9%)
GM 100% vs sector 44%, OM -25% vs sector 3%
Capital turnover N/A, R&D intensity 95.0%
Rev growth 2%, 5yr history
Interest coverage N/A, Net debt/EBITDA -6.7x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
We rate Immatics N.V. (IMTX) as a Hold with a composite score of 51.8/100 at a current price of $10.43. The stock presents a mixed quantitative picture — neither compelling enough to warrant new accumulation nor weak enough to justify selling.
Immatics N.V. holds a top-quartile position (#0 of 50) within the Manufacturing sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 51.8/100 places it at rank #1718 in our full universe.
The near-term outlook is constructive, with revenue growing at 2% and momentum in the 74th percentile confirming positive market sentiment. The combination of strong top-line growth and favorable price dynamics suggests the company is executing well on its growth strategy.
Narrow
Medium
Standard
Fair Value
Gross margins of 100% signal strong pricing power.
Positive momentum indicates institutional accumulation.
Stable competitive position in a defensive sector.
Elevated P/E ratio of 68.3x leaves little room for execution misses.
Vulnerability to macroeconomic shocks and interest rate volatility.
Immatics N.V. represents a hold based on multi-factor quantitative performance.
Our model assigns Immatics N.V. a Hold rating, with a composite score of 51.8/100 and 3 out of 5 stars. Ranked #1718 of 7,333 stocks, IMTX presents a mixed quantitative picture — neither compelling enough to initiate new positions nor weak enough to warrant selling. Investors already holding may consider maintaining their position while monitoring for changes in the factor profile.
With a quality score of 53/100, IMTX shows adequate but unremarkable business quality. The company reports a return on equity of 10.6% (sector avg: -1.9%), gross margins of 100.0% (sector avg: 44.1%), net margins of 9.8% (sector avg: 1.0%). This suggests the company generates acceptable returns but may lack the competitive positioning or operational efficiency to stand out from peers.
With a value score of 47/100, IMTX appears somewhat expensive relative to its fundamentals. Key valuation metrics include a P/E ratio of 68.32x, an EV/EBITDA of 8.04x, a P/B ratio of 2.27x. Investors paying a premium here are likely betting on above-average growth or margin expansion to justify current prices.
Immatics N.V.'s investment score of 28/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of 1.7% vs. a sector average of 6.7% and a return on assets of 8.7% (sector: 0.9%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
IMTX shows strong momentum characteristics with a score of 74/100. The stock has been trending above key moving averages, indicating solid demand from institutional buyers. Revenue growth stands at 1.7% year-over-year, while a beta of 1.35 reflects its sensitivity to broader market moves. This level of momentum typically signals sustained investor confidence and favorable near-term price action.
With a stability score of 45/100, IMTX exhibits average financial resilience. Key stability metrics include a beta of 1.35 and a debt-to-equity ratio of 2.00x (sector avg: 0.2x). While the balance sheet is not a major concern, the stock is subject to typical market volatility and may experience sharper drawdowns during risk-off episodes.
Immatics N.V.'s short interest score of 17/100 reveals significant bearish positioning, suggesting institutional investors are actively betting against the stock. Specific risk factors include above-average market sensitivity (beta: 1.35), small-cap liquidity risk. At $602M (small-cap), IMTX carries meaningful risk and is best suited for investors with high risk tolerance who have thoroughly evaluated the bear thesis.
Immatics N.V. is a small-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #1718 of 7,333 overall (77th percentile). Key comparisons include ROE of 10.6% exceeding the -1.9% sector median and operating margins of -24.8% below the 2.5% sector average. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While IMTX currently exhibits a HOLD profile, superior opportunities exist within the MANUFACTURING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
View Top Manufacturing Alpha →Quant Factor Profile
Key factor gap
Momentum (74) vs Short Int. (17) — closing this gap could shift the rating.
EV/EBITDA 30% BELOW SECTOR MEDIAN (FAVORABLE)
ROE 657% BELOW SECTOR MEDIAN
Gross Margin 127% ABOVE SECTOR MEDIAN (FAVORABLE)
Above 50MA
37.18%
Net New Highs
+51081
FDA orphan drug designation puts Immatics (NasdaqCM:IMTX) melanoma program in focus Immatics (NasdaqCM:IMTX) is back on investor radars after the FDA granted orphan drug designation to its melanoma treatment for HLA-A 02:01-positive patients with Stage II and higher disease. See our latest analysis for Immatics. The orphan drug news lands after a sharp shift in sentiment, with the 1-year total shareholder return of 102.17% and recent 7-day and 30-day share price returns of 9.74% and 11.90%...
Key Insights Significantly high institutional ownership implies Immatics' stock price is sensitive to their trading...
The US biotechnology sector is poised for growth in 2026, with several companies having near-term ca
Immatics (NasdaqCM:IMTX) just priced a follow on equity offering, selling 12,500,000 new shares at 10 dollars each to raise about 125 million dollars, a move that directly affects shareholder dilution and funding runway. See our latest analysis for Immatics. The sharp 1 day share price return of negative 14.24 percent after the raise comes on the back of a powerful 90 day share price return of 75.82 percent and 1 year total shareholder return of 30.85 percent, suggesting momentum is cooling...
Immatics previously received FDA orphan drug designation for its melanoma therapy targeting Stage II and higher cutaneous melanoma in HLA-A 02:01-positive patients, marking a key regulatory milestone in its immunotherapy pipeline. This orphan status brings potential benefits such as regulatory support and market exclusivity, which can materially shape Immatics’ development and commercialization pathway for this treatment. Next, we’ll examine how the FDA orphan drug designation and its...