Immunome Inc (IMNM) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Immunome Inc stock $4.41, price $18.71, that is 76.4% below the price, quality 26 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 9, 2026.
How to read this chart
60‑month range $2.21 – $29.83 · fair‑value band $2.91 – $5.51 · the $18.71 price screens above the $4.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Immunome, Inc., a biotechnology company, engages in the discovery, design, development, manufacturing, and commercialization of antibody-drug conjugates and other oncology therapeutics in the United States.
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The company develops clinical asset comprising Varegacestat, a gamma secretase inhibitor that is in Phase 3 clinical trial for the treatment of desmoid tumors; and IM-1021, a receptor tyrosine kinase-like orphan receptor 1 antibody-drug conjugate (ADC), which is in Phase 1 clinical trial.
It is also developing preclinical assets, including IM-3050, a fibroblast activation protein targeted radioligand therapy; and solid tumor ADC drug candidates, such as IM-1617, IM-1340, and IM-1335. Immunome, Inc. was incorporated in 2006 and is based in Bothell, Washington.
Stock analysis
Immunome Inc (IMNM) currently trades at $18.71, while our model-based Fair Value estimate is $4.41, 76% 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: $2.91 (bear) to $5.51 (bull), the price of $18.71 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 26/100 (below-average quality), in the Healthcare sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Immunome Inc reported revenue of $6.9M in FY2025 versus $0 in FY2021. Reported net income was −$212M in FY2025.
Key figures
Market cap $2.1B Mid · EPS (TTM) $−2.52 · Return on equity −64.0% · Return on assets (EBIT) −85.9% (5-year average) · Free cash flow −$201M · Net cash $650M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 14 out of 100 (low confidence).
What moves the price
The share trades about 37% below its 52-week high and 23% 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 −76%, IMNM screens richer than that median.
Fair Value models
Bear$2.91Fair Value $4.41Bull$5.51
Price $18.71 · Downside -76.4%
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)$3.42$5.19$6.4854
All 1 models by family
Asset-Based
NCAV (Graham)$3.42$5.19$6.4854
The fair value above starts from this blend and is adjusted for dilution from new shares.
In the last 6 months, one officer or director bought shares worth $307,760, on Jun 5, 2026. Over the same period, 6 people sold shares worth $16.2M.
SaleJack HigginsChief Scientific Officer2× since Apr 2, 2026: 22,638 shares, avg. $23.79$538,462Sep 11, 202610b5-1 plan
SaleIsaac BarchasDirector5× since Dec 22, 2025: 803,802 shares, avg. $22.74$18.3MAug 12, 202610b5-1 plan
SaleKinney HornCHIEF BUSINESS OFFICER2× since Jul 7, 2026: 91,708 shares, avg. $25.09$2.3MAug 4, 202610b5-1 plan
SaleRobert LechleiderChief Medical Officer2× since Jun 25, 2026: 110,000 shares, avg. $21.24$2.3MJul 2, 202610b5-1 plan
SaleMax RosettChief Financial Officer2× since Apr 2, 2026: 125,000 shares, avg. $20.15$2.5MJun 15, 202610b5-1 plan
SaleJean Jacques BienaimeDirector10,500 shares at $19.41$203,820Jun 5, 2026
BuyJean Jacques BienaimeDirector3× since Mar 10, 2026: 17,500 shares, avg. $20.08$351,430Jun 5, 2026
BuyClay B SiegallPresident and CEO, Director4× since Dec 18, 2025: 83,968 shares, avg. $20.84$1.7MMar 27, 2026
SalePhilip WagenheimDirector65,000 shares at $20.55$1.3MMar 23, 2026
BuyPhilip TsaiChief Technical Officer10,000 shares at $20.49$204,900Dec 19, 2025
Plus 13 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
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 growth is weak: less than 2 % a year.
Revenue growth 1 year
−23.2%
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.
+1.6%
’22
’23
’24
’25
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.
−556.8% (2022) → −3,084.8% (2025)
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
AI conclusion: Pipeline growth with multiple ADCs offers potential differentiation while negative cash flows and limited durable advantages constrain the early-stage biotech.
Main risk: Execution across several parallel trials could slow data delivery and differentiation for the expanding ADC pipeline.
Immunome is expanding its pipeline with a fifth clinical program after gaining FDA clearance for the IM-1340 antibody-drug conjugate in solid tumors. Multiple ADCs now advance in parallel using the proprietary HC74 payload alongside the lead asset still under review. Our models currently see the stock as overvalued. Will the growing number of early-stage programs deliver data and differentiation faster than the long review timeline for varegacestat can be managed, or will execution across several trials limit progress?
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 1/5 measures
Overall it trails its industry peers.
Valuation
Quality Score26 · Bottom 25%
Fair Value upside−76.4% · Bottom 25%
Profitability
Return on assets−31.1% · Below median
Operating margin (12 months)0.0% · Above median
Valuation Multiplesvs Biotechnology median · lower = cheaper
P/B3.34× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 0
PAST (return on equity)0· sector 0
HEALTH (low debt)100· sector 97
DIVIDEND (yield)0· sector 22
VALUE 0: the price sits above our fair-value range.
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). "Immunome Inc Fair Value". https://www.fairvalue-calculator.com/stock/IMNM
Frequently asked questions
Is Immunome Inc (IMNM) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of $4.41 versus a price of $18.71, about 76% lower (overvalued).
What is the fair value of IMNM?
Our model-based fair value for Immunome Inc is $4.41 (as of Nov 9, 2026), built from audited fundamentals. The current price: $18.71.
What is the quality score of IMNM?
Immunome Inc has a Quality Score of 26/100. 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 Immunome Inc (IMNM)?
Our model-based price target is the fair value of $4.41 (as of Nov 9, 2026) from 1 valuation models. Cautious scenario $2.91, optimistic scenario $5.51. It is a calculation from audited fundamentals, not an analyst target.
What is the Immunome Inc stock forecast for 2026?
Our models put fair value at $4.41, about 76% lower versus a price of $18.71 (overvalued). Cautious scenario $2.91, optimistic scenario $5.51. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Immunome Inc (IMNM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Immunome Inc it is $4.41 per share (as of Nov 9, 2026), against a price of $18.71. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Immunome Inc stock overvalued or undervalued in 2026?
As of Nov 9, 2026, IMNM trades above its calculated fair value: price $18.71, fair value $4.41, a gap of about −76% (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 IMNM?
No. The price is what the market pays today ($18.71); the fair value is what the company's own numbers justify ($4.41). For Immunome Inc the two are $14.30 per share apart. That gap is exactly why we show both numbers side by side.
How much is Immunome Inc worth?
The market values Immunome Inc at about $2.1B (market capitalisation, as of Nov 9, 2026). Per share that is $18.71; our models calculate a fair value of $4.41 per share.
What do the bullish and bearish scenarios say about IMNM?
Our models span a range for Immunome Inc: cautious scenario $2.91, base $4.41, optimistic $5.51 per share (as of Nov 9, 2026, price $18.71). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Immunome Inc (IMNM)?
Balance-sheet figures for Immunome Inc (as of Nov 9, 2026): return on equity −64.0%. They feed the Quality Score of 26/100, which measures business quality independently of the share price.
How far is IMNM from its 52-week high?
Immunome Inc trades at $18.71, about 37% below its 52-week high of $29.83 and 23% above the low of $15.24 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $4.41 is for.
Which stocks are comparable to Immunome Inc?
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 Immunome Inc stock attractive at the current price?
The data as of Nov 9, 2026: price $18.71, calculated fair value $4.41 (−76%), Quality Score 26/100, 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 IMNM calculated?
We run Immunome Inc through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of $4.41 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. Immunome Inc 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 Immunome Inc (IMNM)?
The closing price on Nov 6, 2026 was $18.71. Our model-based fair value is $4.41, about 76% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Immunome Inc right now?
The price sits above even our optimistic bull case ($5.51). The favourable scenario is already priced in. Weak quality (26/100) 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 ($2.91 to $5.51) leaves room in how you read the outcome.
Key figures of Immunome Inc
How large is the market capitalisation of Immunome Inc (IMNM)?
The market capitalisation of Immunome Inc is $2.1B. 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 Immunome Inc (IMNM)?
Earnings per share at Immunome Inc are $−2.52. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Immunome Inc (IMNM)?
The return on equity (ROE) of Immunome Inc is −64.0% (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 Immunome Inc (IMNM)?
On an EBIT basis the return on assets of Immunome Inc is −85.9% (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 Immunome Inc (IMNM) generate?
The free cash flow of Immunome Inc is −$201M (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 Immunome Inc (IMNM) hold?
Immunome Inc holds more cash than debt, $650M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 9, 2026
