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Immuneering Corp (IMRX) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of Immuneering Corp stock $3.26, price $3.65, that is 10.7% below the price, quality 35 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Healthcare US

IC Immuneering Corp logo Thin data Nov 10, 2026

Immuneering Corp

IMRX · US
Expensive, weak quality

Our calculation puts a fair price 11% below what the stock costs today.

Mixed vs. peers (3/6)
Insiders bought $35,989 (6M)
Fair value $3.26 · Overvalued
Quality 35/100
Weak Growth (revenue 3y −94.2 %/yr in USD)
Negative free cash flow
Narrow moat 8/100 · thin data
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$32.84 $1.03 Fair Value $3.26 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range $1.03 – $32.84 · fair‑value band $2.44 – $4.07 · the $3.65 price screens above the $3.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

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 $3.65, while our estimate is $3.26, 11% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $2.44 (bear) to $4.07 (bull), the price of $3.65 sits inside 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 $236M 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 8% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −6% fair-value upside, at −11%, IMRX screens richer than that median.

Fair Value

Bear $2.44 Fair Value $3.26 Bull $4.07
Price $3.65 · Downside -10.7%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 35/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 75
Are margins and returns getting better?
Cashflow 21
Do the profits arrive as real cash?
Financial strength 100
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 7
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 3
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

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.

Source: SEC Form 4, as of Nov 9, 2026. All filings at the SEC ↗

Revenue & earnings trend

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%
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
not computed

IMRX screens overvalued: fair value 11% below the price. Compare with Vertex Pharmaceuticals Incorporated →

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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 · 867 stocks

Beats the industry median on 3/5 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 35 · Below median
Fair Value upside −10.7% · Top 25%
Profitability
Return on assets −24.2% · Below median
Operating margin (12 months) 0.0% · Above median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 1.08× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)19 · sector 0
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)0 · sector 19

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Regeneron Pharmaceuticals, Inc REGN $919.96 $1,275 +39% vs IMRX
Samsung Biologics Co 207940 1,510,000 KRW 1,661,000 KRW +10% vs IMRX
Vertex Pharmaceuticals Incorporated VRTX $550.87 $601.80 +9% vs IMRX
Genmab A/S GMAB kr 3,661 kr 3,880 +6% vs IMRX
argenx SE ARGX $962.27 $908.40 −6% vs IMRX
CSL Limited CSL A$200.73 A$181.40 −10% vs IMRX
BeOne Medicines AG 6160 HK$248.20 HK$152.80 −38% vs IMRX
Roivant Sciences Ltd ROIV $40.67 $17.39 −57% vs IMRX
Celltrion, Inc 068270 210,000 KRW 74,945 KRW −64% vs IMRX
Royalty Pharma plc RPRX $68.77 $19.01 −72% vs IMRX

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Immuneering Corp: fair value per Fair Value Calculator

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 10, 2026, our estimate of fair value is $3.26 versus a price of $3.65, about 11% lower (overvalued).
What is the fair value of IMRX?
Our estimate for Immuneering Corp is $3.26 (as of Nov 10, 2026), built from audited fundamentals. The current price: $3.65.
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 calculated price target is the estimate of $3.26 (as of Nov 10, 2026). Cautious scenario $2.44, optimistic scenario $4.07. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Immuneering Corp stock forecast for 2026?
Our estimate puts fair value at $3.26, about 11% lower versus a price of $3.65 (overvalued). Cautious scenario $2.44, optimistic scenario $4.07. 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 10, 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 $3.26 per share (as of Nov 10, 2026), against a price of $3.65.
Is Immuneering Corp stock overvalued or undervalued in 2026?
As of Nov 10, 2026, IMRX trades above its calculated fair value: price $3.65, fair value $3.26, a gap of about −11% (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 ($3.65); the fair value is what the company's own numbers justify ($3.26). For Immuneering Corp the two are $0.3900 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 $236M (market capitalisation, as of Nov 10, 2026). Per share that is $3.65; our models calculate a fair value of $3.26 per share.
What do the bullish and bearish scenarios say about IMRX?
Our models span a range for Immuneering Corp: cautious scenario $2.44, base $3.26, optimistic $4.07 per share (as of Nov 10, 2026, price $3.65). 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 10, 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 $3.65, about 56% below its 52-week high of $8.33 and 8% above the low of $3.37 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of $3.26 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 10, 2026: price $3.65, calculated fair value $3.26 (−11%), Quality Score 35/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 13.7% 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 9, 2026 was $3.65. Our estimate is $3.26, about 11% 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?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of Immuneering Corp

How large is the market capitalisation of Immuneering Corp (IMRX)?
The market capitalisation of Immuneering Corp is $236M. 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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