Immuneering Corp (IMRX) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Immuneering Corp stock $2.13, price $3.68, that is 42.0% below the price, quality 35 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range $1.03 – $32.84 · fair‑value band $1.41 – $2.67 · the $3.68 price screens above the $2.13 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Immuneering Corporation, a late-stage oncology company, develops medicines for broad populations of cancer patients in the United States.
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The company develops IMM-1-104 (atebimetinib), a dual-MEK inhibitor that is in a Phase 3 clinical trial to treat patients with cancer, including pancreatic and non-small cell lung cancer caused by mutations of RAS or RAF; IMM-6-415 (envometinib), which is in Phase 1/2a clinical trial for the treatment of patients with solid tumors; and multiple deep cyclic inhibitor discovery programs.
The company has clinical supply agreements with Regeneron Pharmaceuticals to evaluate atebimetinib in combination with Libtayo in patients with unresectable or metastatic RAS-mutant non-small cell lung cancer; and with Eli Lilly and Company to evaluate atebimetinib in combination with olomorasib in patients with advanced or metastatic KRAS G12C-mutant non-small cell lung cancer.
Immuneering Corporation was incorporated in 2008 and is headquartered in Cambridge, Massachusetts.
Stock analysis
Immuneering Corp (IMRX) currently trades at $3.68, while our model-based Fair Value estimate is $2.13, 42% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.
Scenario range: $1.41 (bear) to $2.67 (bull), the price of $3.68 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 35/100 (below-average quality), in the Healthcare sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Immuneering Corp reported revenue of $0 in FY2025 versus $2.1M in FY2021. Reported net income was −$56.0M in FY2025.
Key figures
Market cap $238M Micro · EPS (TTM) $−0.9200 · Return on equity −52.2% · Return on assets (EBIT) −53.3% (5-year average) · Revenue (TTM) $455 · Free cash flow −$45.5M · Net cash $125M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 8 out of 100 (low confidence).
What moves the price
The share trades about 56% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at −42%, IMRX screens richer than that median.
Fair Value models
Bear$1.41Fair Value $2.13Bull$2.67
Price $3.68 · Downside -42.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham)$1.66$2.51$3.1452
All 1 models by family
Asset-Based
NCAV (Graham)$1.66$2.51$3.1452
The fair value above starts from this blend and is adjusted for dilution from new shares.
In the last 6 months, 2 officers or directors bought shares worth $35,989, most recently on Jun 23, 2026. Buying cluster
BuyBenjamin J. ZeskindPRESIDENT AND CEO, Director2,400 shares at $4.56$10,944Jun 23, 2026
BuyBrett Matthew HallCHIEF SCIENTIFIC OFFICER2× since Jan 15, 2026: 8,333 shares, avg. $4.27$35,547Jun 15, 2026
BuyHarold Eugene BrakewoodChief Business Officer5,250 shares at $4.76$24,990Jan 16, 2026
BuyThomas J. SchallDirector21,645 shares at $4.67$101,082Jan 15, 2026
BuyLeah R NeufeldCHIEF PEOPLE OFFICER2,626 shares at $4.15$10,898Jan 13, 2026
BuyPeter FeinbergDirector20,000 shares at $4.35$87,000Jan 12, 2026
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−99.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−94.2%
’19
’20
’21
’22
’23
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−327.7% (2019) → −12,837,997.1% (2023)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 558 stocks
Beats the industry median on 3/5 measures
Overall it ranks above its industry peers.
Valuation
Quality Score35 · Below median
Fair Value upside−42.0% · Above median
Profitability
Return on assets−24.2% · Below median
Operating margin (12 months)0.0% · Above median
Valuation Multiplesvs Biotechnology median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Immuneering Corp Fair Value". https://www.fairvalue-calculator.com/stock/IMRX
Frequently asked questions
Is Immuneering Corp (IMRX) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $2.13 versus a price of $3.68, about 42% lower (overvalued).
What is the fair value of IMRX?
Our model-based fair value for Immuneering Corp is $2.13 (as of Nov 7, 2026), built from audited fundamentals. The current price: $3.68.
What is the quality score of IMRX?
Immuneering Corp has a Quality Score of 35/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Immuneering Corp (IMRX)?
Our model-based price target is the fair value of $2.13 (as of Nov 7, 2026) from 1 valuation models. Cautious scenario $1.41, optimistic scenario $2.67. It is a calculation from audited fundamentals, not an analyst target.
What is the Immuneering Corp stock forecast for 2026?
Our models put fair value at $2.13, about 42% lower versus a price of $3.68 (overvalued). Cautious scenario $1.41, optimistic scenario $2.67. The calculation is refreshed regularly with new filings.
What is the revenue of Immuneering Corp (IMRX)?
Immuneering Corp reported trailing-twelve-month revenue of about $455 (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Immuneering Corp (IMRX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Immuneering Corp it is $2.13 per share (as of Nov 7, 2026), against a price of $3.68. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Immuneering Corp stock overvalued or undervalued in 2026?
As of Nov 7, 2026, IMRX trades above its calculated fair value: price $3.68, fair value $2.13, a gap of about −42% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of IMRX?
No. The price is what the market pays today ($3.68); the fair value is what the company's own numbers justify ($2.13). For Immuneering Corp the two are $1.55 per share apart. That gap is exactly why we show both numbers side by side.
How much is Immuneering Corp worth?
The market values Immuneering Corp at about $238M (market capitalisation, as of Nov 7, 2026). Per share that is $3.68; our models calculate a fair value of $2.13 per share.
What do the bullish and bearish scenarios say about IMRX?
Our models span a range for Immuneering Corp: cautious scenario $1.41, base $2.13, optimistic $2.67 per share (as of Nov 7, 2026, price $3.68). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Immuneering Corp (IMRX)?
Balance-sheet figures for Immuneering Corp (as of Nov 7, 2026): return on equity −52.2%. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is IMRX from its 52-week high?
Immuneering Corp trades at $3.68, about 56% below its 52-week high of $8.33 and 9% above the low of $3.37 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $2.13 is for.
Which stocks are comparable to Immuneering Corp?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, CSL Limited, argenx SE, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Immuneering Corp stock attractive at the current price?
The data as of Nov 7, 2026: price $3.68, calculated fair value $2.13 (−42%), Quality Score 35/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of IMRX calculated?
We run Immuneering Corp through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of $2.13 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Immuneering Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Immuneering Corp (IMRX)?
The closing price on Nov 6, 2026 was $3.68. Our model-based fair value is $2.13, about 42% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Immuneering Corp right now?
The price sits above even our optimistic bull case ($2.67). The favourable scenario is already priced in. Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($1.41 to $2.67) leaves room in how you read the outcome.
Key figures of Immuneering Corp
How large is the market capitalisation of Immuneering Corp (IMRX)?
The market capitalisation of Immuneering Corp is $238M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Immuneering Corp (IMRX)?
Earnings per share at Immuneering Corp are $−0.9200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Immuneering Corp (IMRX)?
The return on equity (ROE) of Immuneering Corp is −52.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Immuneering Corp (IMRX)?
On an EBIT basis the return on assets of Immuneering Corp is −53.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much free cash flow does Immuneering Corp (IMRX) generate?
The free cash flow of Immuneering Corp is −$45.5M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Immuneering Corp (IMRX) hold?
Immuneering Corp holds more cash than debt, $125M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 7, 2026
