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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#3975
Positioning
Market Dominance
Manufacturing
Pharmaceutical Products
$87M
Daniel Vitt
Immunic, Inc., a clinical-stage biopharmaceutical company, develops a pipeline of selective oral immunology therapies. Its lead development program is IMU-838, which is in Phase 2 clinical for treatment of relapsing-remitting multiple sclerosis, inflammatory bowel disease, and other chronic inflammatory and autoimmune diseases, as well as to treat coronavirus disease.
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| 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 | - | - | 28.5% | 8.0% | 100.0% | 100.0% | 10.4% | -4.6% | 3.3% | 0.0x | $141.8B | VS | |
$ASML ASML HOLDING NV | 77 | 89 | 86 | 83 | - | - | 46.1% | 16.6% | 51.3% | 31.9% | 26.8% | -4.0% | 1.0% | 25.0x | $272.1B | VS | |
$ESLT ELBIT SYSTEMS LTD | 76 | 81 | 87 | 85 | - | - | 10.3% | 3.1% | 24.1% | 7.2% | 4.7% | 14.3% | 0.8% | 25.0x | $11.4B | VS | |
$MT ArcelorMittal | 75 | 71 | 98 | 85 | - | - | 2.2% | 1.5% | 9.3% | 5.3% | 2.2% | -8.5% | 2.2% | 16.0x | $18.9B | VS | |
$AMAT APPLIED MATERIALS INC /DE | 75 | 85 | 87 | 84 | 20.9x | 13.6x | 35.5% | 19.8% | 48.7% | 29.2% | 24.7% | 4.4% | 0.8% | 32.0x | $181.9B | VS | |
$SIMO Silicon Motion Technology CORP | 75 | 84 | 86 | 85 | - | - | 11.8% | 8.8% | 45.9% | 11.3% | 11.1% | 25.7% | 3.7% | 0.0x | $1.8B | VS | |
$CODA Coda Octopus Group, Inc. | 74 | 83 | 90 | 79 | 16.3x | 11.9x | 7.6% | 7.0% | 66.5% | 17.1% | 15.6% | 39.0% | 0.0% | 0.0x | $115M | VS | |
$GSK GSK plc | 74 | 84 | 90 | 70 | - | - | 22.6% | 4.9% | 71.2% | 12.8% | 9.4% | 1.7% | 5.9% | 124.0x | $72.1B | VS | |
$EFXT Enerflex Ltd. | 74 | 80 | 91 | 83 | - | - | 3.0% | 1.1% | 20.9% | 7.3% | 1.3% | 3.0% | 0.9% | 67.0x | $1.2B | VS | |
$BUD Anheuser-Busch InBev SA/NV | 74 | 84 | 97 | 63 | - | - | 8.2% | 3.5% | 55.3% | 25.9% | 12.4% | 0.7% | 1.7% | 0.0x | $87.0B | VS | |
$IMUX IMMUNIC, INC. | 36 | 24 | 10 | 34 | - | - | -973.8% | -251.2% | - | - | - | - | 0.0% | 288.0x | $87M | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -2.5% | -0.1% | 42.5% | 1.3% | -0.2% | 5.9% | 0.0% | 0.2x | - | REF |
IMMUNIC, INC. (IMUX) receives a "Avoid" rating with a composite score of 36.4/100. It ranks #3975 out of 7,333 stocks in our coverage universe and carries a 1-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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Equity capital efficiency
Asset base utilization
Financial leverage load
Direct cash return
Daniel Vitt
Chief Executive Officer
Labor Force
70
24
25
41
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for IMUX
Lagging peers — losers tend to keep underperforming
Expensive relative to fundamentals — limited margin of safety
Weak fundamentals — higher risk of value trap
Average volatility — neutral timing signal
Aggressive spending — empire-building risk, dilutive growth
Below-average composite — caution warranted
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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.
No analyst ratings for IMUX.
View All RatingsInsufficient data for Financial Analysis
ROE proxy -973.8% (sector -2.5%)
GM N/A vs sector 43%, OM N/A vs sector 1%
Capital turnover N/A
Rev growth N/A, 10yr history
Interest coverage N/A
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.
Our quantitative model flags IMMUNIC, INC. with an Avoid rating, assigning a composite score of 36.4/100 and 1 out of 5 stars. Ranked #3975 of 7,333 stocks, IMUX falls in the bottom tier across key factors. Historically, stocks with this profile have faced elevated risk of underperformance and capital loss.
IMMUNIC, INC. registers a weak quality score of just 24/100, indicating significant profitability challenges. The company reports a return on equity of -973.8% (sector avg: -2.5%). Low quality scores are often associated with businesses in turnaround mode, early-stage growth, or structurally challenged industries.
IMUX registers a value score of just 10/100, suggesting the stock trades at a significant premium to its fundamental metrics. Key valuation metrics include a P/B ratio of 10.77x. High-premium valuations like this require strong future execution to avoid multiple compression, and downside risk is elevated if growth disappoints.
IMMUNIC, INC.'s investment score of 25/100 suggests limited reinvestment activity. Key growth metrics include a return on assets of -251.2% (sector: -0.1%). 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.
IMUX is currently showing below-average momentum at 34/100, which may indicate weakening institutional interest or negative sentiment shifts. Revenue growth data is not currently available, while a beta of 0.97 reflects its sensitivity to broader market moves. Investors should note that declining momentum can precede further price weakness, though contrarian opportunities sometimes emerge at these levels.
IMUX's stability score of 41/100 signals elevated volatility and/or leverage concerns. Key stability metrics include a beta of 0.97 and a debt-to-equity ratio of 288.00x (sector avg: 0.2x). Investors should be prepared for wider-than-average price swings and consider position sizing accordingly to manage portfolio risk.
The short interest score of 53/100 for IMUX suggests somewhat elevated bearish positioning by institutional traders. Specific risk factors include elevated leverage (D/E: 288.00x), micro-cap liquidity risk. With a $87M market cap (micro-cap), IMMUNIC, INC. may experience above-average volatility. Investors should consider whether the short thesis has merit or if it creates a potential short-squeeze opportunity.
IMMUNIC, INC. is a micro-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #3975 of 7,333 overall (46th percentile). Key comparisons include ROE of -973.8% trailing the -2.5% sector median. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While IMUX currently exhibits a AVOID 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.
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Improvement in Value (10) would have the largest impact on the composite score.
ROE 39167% ABOVE SECTOR MEDIAN (FAVORABLE)
Debt/Equity 143900% ABOVE SECTOR MEDIAN
Div. Yield NaN% BELOW SECTOR MEDIAN
AUDIT DATA AS OF SEP 30, 2025 (Q2 FY2025)
We rate IMMUNIC, INC. (IMUX) as Avoid with a composite score of 36.4/100 at a current price of $0.90. The stock falls in the bottom quintile of our universe across key quantitative factors, and the multi-factor weakness suggests a high probability of continued underperformance.
The rating is primarily driven by strength in stability (41th percentile) and momentum (34th percentile), which together account for the majority of the composite score. Offsetting weakness in value (10th percentile) and quality (24th percentile) tempers our overall conviction. We assign a No Moat rating (13/100), High uncertainty, and Poor capital allocation.
Key items to watch: momentum to confirm whether the current price trend has legs; balance sheet deleveraging progress; valuation compression risk if growth disappoints. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
IMMUNIC, INC. 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 36.4/100 places it at rank #3975 in our full 7,333-stock universe. At $87M in market capitalization, IMMUNIC, INC. is a small-cap player in the Manufacturing space, which limits certain scale advantages but may allow for more agile strategic execution.
Momentum indicators (34th percentile) suggest caution regarding the near-term price trend. Revenue growth data is unavailable, limiting our ability to confirm whether momentum is fundamentally supported.
Margin data is not available for IMMUNIC, INC., which limits our assessment of the company's cost structure and operating efficiency. We rely on factor-based signals to infer business quality in the absence of detailed margin data.
At a current price of $0.90, IMMUNIC, INC. is trading at a premium to fundamental value. Our value factor score of 10/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. The premium valuation implies the market is pricing in significant future growth or quality improvements that are not yet fully reflected in current fundamentals.
The stock currently trades at P/B of 10.8x. We evaluate these multiples in the context of both absolute levels and sector-relative positioning to form our valuation view.
The stock may offer contrarian value if near-term headwinds prove transitory — the current weakness in factor scores may reverse if business fundamentals stabilize.
The Avoid rating (composite 36.4/100) reflects multi-factor weakness, and historically, stocks in this scoring range have underperformed the market by a meaningful margin.
Elevated leverage (288% D/E) amplifies downside risk and limits management's financial flexibility in adverse scenarios.
Weak momentum (34th percentile) suggests institutional selling pressure and unfavorable technical dynamics that may persist.
Below-average quality (24th percentile) raises durability concerns about the fundamental profile and increases the risk of negative earnings surprises.
We assign a High uncertainty rating to IMMUNIC, INC.. Key risk factors include significant leverage (288% debt-to-equity), weak quality scores (24th percentile). The wide range of potential outcomes widens our fair value estimate and increases the possibility of permanent capital impairment. Investors considering this name should size positions accordingly and demand a meaningful margin of safety before initiating.
Specific risk factors that inform our assessment include: significant leverage (288% debt-to-equity); weak quality scores (24th percentile). Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 41th percentile and quality factor at the 24th percentile provide a quantitative summary of the overall risk landscape.
We identify limited risk mitigants at this time, which contributes to our high uncertainty assessment. Investors should monitor for improvement in balance sheet metrics, margin stability, and business predictability that could warrant a downgrade in our risk assessment over time.
We rate IMMUNIC, INC.'s capital allocation as Poor. Key concerns include low returns on equity (-973.8%), elevated leverage (288% D/E), weak asset returns (ROA -251.2%). Exemplary capital allocators generate ROE above 20% and maintain conservative leverage — IMMUNIC, INC. significantly underperforms these benchmarks, raising questions about management's ability to create shareholder value.
Investors should scrutinize management's reinvestment decisions and balance sheet trajectory before committing capital. Poor capital allocation often compounds over time: overlevered balance sheets limit strategic flexibility, while low returns on capital destroy shareholder value. We would need to see sustained improvement in profitability metrics and balance sheet discipline before considering an upgrade.
In summary, IMMUNIC, INC. receives a Avoid rating with a composite score of 36.4/100 (rank #3975 of 7,333). Our quantitative framework assigns a No Moat (13/100, trend: stable), High uncertainty, and Poor capital allocation. The average factor score across quality, value, momentum, stability, and investment is 27/100.
Our analysis does not support a constructive view on IMMUNIC, INC. at this time. The combination of limited competitive advantages, high uncertainty, and poor capital allocation suggests unfavorable risk-reward at current levels. We recommend investors avoid new positions and existing holders consider reducing exposure.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We do not assign IMMUNIC, INC. a meaningful economic moat, scoring 13/100 on our composite assessment. Current fundamentals do not demonstrate the kind of durable competitive advantages — such as superior returns on invested capital, margin superiority, or reinvestment efficiency — that would protect the company from competitive erosion over the long term. The highest-scoring pillar, margin superiority, reached only 10/20.
The strongest moat sources are margin superiority (10/20) and economic value creation (2.5/20). GM N/A vs sector 43%, OM N/A vs sector 1%. ROE proxy -973.8% (sector -2.5%). These pillars form the core of IMMUNIC, INC.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include reinvestment efficiency (0/20) and growth durability (0/20). Capital turnover N/A. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect IMMUNIC, INC.'s moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers are not clearly identifiable from current fundamentals. This may reflect a company in transition, a cyclical downturn, or structural challenges in the business model. We assign a quality factor of 24/100 which further underscores our concern regarding earnings sustainability.
Return metrics include ROE of -973.8% and ROA of -251.2%. Relative to the Manufacturing sector, sector comparison data is limited, and ROE of -973.8% compares to a sector median of -2.5%.
The balance sheet reflects high leverage with D/E of 288%, which may limit financial flexibility. The sector median D/E is 0%, putting IMMUNIC, INC. at higher leverage than the typical peer. Elevated leverage in combination with the current margin profile warrants close monitoring for any deterioration in debt-servicing capacity.
Above 50MA
37.18%
Net New Highs
+51081
Immunic (NASDAQ:IMUX) is projected to release its Q4 2025 earnings before market open on Thursday, February 26th, with analysts forecasting a loss of ($0.1022) per share. The stock opened down 4.4% at $0.88, valuing the company at $105.51 million, while institutional ownership stands at approximately 51.82%, following significant recent acquisitions by several hedge funds. Wall Street analysts maintain a "Buy" consensus rating with an average price target of $6.60, despite recent price target cuts.
Immunic, Inc. (NASDAQ:IMUX) stock surged 20% following the announcement of an oversubscribed private placement designed to raise up to $400 million. This financing, led by existing investor BVF Partners L.P. and various institutional investors, will fund the development of its multiple sclerosis drug programs and help Immunic transition into a commercial organization. The funds are expected to support ongoing Phase 3 trials for vidofludimus calcium and initiate a new Phase 3 clinical program later this year.
Immunic, Inc. (NASDAQ:IMUX) has secured up to $400 million in a private placement to fund its multiple sclerosis drug development programs and commercial transition. The financing, led by BVF Partners L.P., includes initial proceeds of $200 million and additional warrants for another $200 million. This capital infusion is crucial for the clinical-stage biotech company, which has been rapidly burning cash, as it progresses its phase 3 ENSURE trials and plans for a New Drug Application submission and potential commercial launch of vidofludimus calcium.
Immunic Inc. (NASDAQ: IMUX) stock surged after announcing a private placement of up to $400 million, led by existing investor BVF Partners and several institutional backers. The financing provides $200 million upfront and has the potential for another $200 million through warrant exercises. This capital infusion is expected to fund the company through late 2027, supporting late-stage clinical trials for multiple sclerosis treatments and a new Phase 3 program.
US late-stage biotech Immunic (Nasdaq: IMUX) announced the closing of a $200 million private placement financing. This financing was led by BVF Partners and included several other institutional investors. Immunic issued 229,076,000 pre-funded warrants at $0.873 each, generating the upfront gross proceeds.