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Transgene SA (TNG) fair value: what the stock is really worth

As of Nov 12, 2026: fair value (intrinsic value) of Transgene SA stock €0.53, price €0.73, that is 27.5% below the price, quality 24 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 FR · ISIN FR0005175080

TS Transgene SA logo Thin data Nov 13, 2026

Transgene SA

TNG · PA

Expensive (fair value 28% below the price), weak company and falling price: meets none of the 3 rules.

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Low debt 
Mixed Growth (revenue YoY −97.8 %/yr in EUR) 
Revenue last quarter 35% below a year ago. 
Fair value €0.5291 · Overvalued 
Quality 24/100 
Falling price (downtrend) 
Negative free cash flow 
Trails peers (2/9) 
Narrow moat 12/100 · thin data
Thin data 
Estimate⚠ Small free float
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What runs behind every stock

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

Price vs Fair Value

€2.80 €0.5620 Fair Value €0.5291 Sep 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 13, 2026.

How to read this chart

60‑month range €0.5620 – €2.80 · fair‑value band €0.3968 – €0.6614 · the €0.7300 price screens above the €0.5291 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 13, 2026.

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Company profile

Transgene SA, a biotechnology company, designs and develops therapeutic vaccines and oncolytic viruses for the treatment of cancer in France.

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It involved in developing TG4050, a therapeutic vaccine that is in Phase II clinical trial for the treatment of ovarian cancer, and head and neck cancers; TG4001, a therapeutic vaccine, which is in Phase II clinical trial for the treatment of human papillomavirus (HPV 16) positive cancers; TG6002, an oncolytic virus that is in Phase I/IIa clinical trial for the treatment of solid tumors, including gastrointestinal adenocarcinoma; and BT-001, an oncolytic virus, which is in Phase I/II clinical trial for the treatment of solid tumors.

The company also develops TG6050 for the treatment of non-small cell lung cancer that is in Phase 1 clinical trial; and Pexa-Vec, an oncolytic virus for the treatment of solid tumors.

It has strategic collaboration agreements with AstraZeneca, Merck KGaA, Pfizer, and NEC Corporation; licensing agreements with SillaJen, Ascend BioPharmaceutical, and Valneva; and agreements with Merck & Co, Sanofi, and BioInvent.

The company was incorporated in 1979 and is headquartered in Illkirch-Graffenstaden, France. Transgene SA is a subsidiary of TSGH SAS.

Stock analysis

Transgene SA (TNG) currently trades at €0.7300, while our estimate is €0.5291, 28% 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: €0.3968 (bear) to €0.6614 (bull), the price of €0.7300 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 24/100 (below-average quality), in the Healthcare sector.

Mixed Growth: Spin-off in 2018: revenue and profit before it include the divested business. Growth is measured afresh from 2018.

Transgene SA reported revenue of €137K in FY2025 versus €10.0M in FY2021, a compound −65.8%/yr. Reported net income was −€37.5M in FY2025.

Key figures

Market cap €200M Micro · P/S ratio 33.6 · EPS (TTM) €−0.1700 · Return on equity −64.2% · Return on assets (EBIT) −49.7% (5-year average) · Operating margin −559% · Revenue growth (YoY) −34.6% · Free cash flow −€37.6M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (low confidence).

What moves the price

The share trades about 46% 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 −7% fair-value upside, at −28%, TNG screens richer than that median.

Fair Value

Bear €0.3968 Fair Value €0.5291 Bull €0.6614
Price €0.7300 · Downside -27.5%
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 24/100

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 40
Are margins and returns getting better?
Cashflow 11
Do the profits arrive as real cash?
Financial strength 79
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 57
How calm the share price moves, does not count
Price momentum 24
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 4
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

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. 55/100
Spin-off in 2018: revenue and profit before it include the divested business. Growth is measured afresh from 2018.
Revenue growth 1 year
−97.8%
Revenue growth 7 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.
−27.8%
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.
−804.9% (2020) → −29,978.1% (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
not computed

TNG screens overvalued: fair value 28% 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 · 848 stocks

Beats the industry median on 1/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 24 · Bottom 25%
Fair Value upside −27.5% · Below median
Profitability
Return on assets −27.0% · Below median
Growth and dividend
Revenue growth (quarter YoY) −34.6% · Bottom 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 1.65× · Cheaper than median
P/S (12 months) 35.61× · Priciest 25%
PEG 3.08× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector 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 96
DIVIDEND (yield)0 · sector 20

VALUE 0: the price sits above our fair-value range.

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 $951.19 $1,275 +34% vs TNG
Vertex Pharmaceuticals Incorporated VRTX $542.62 $602.68 +11% vs TNG
Genmab A/S GMAB kr 3,530 kr 3,917 +11% vs TNG
Samsung Biologics Co 207940 1,449,000 KRW 1,573,000 KRW +9% vs TNG
argenx SE ARGX $981.33 $908.40 −7% vs TNG
CSL Limited CSL A$202.92 A$183.54 −10% vs TNG
Moderna, Inc MRNA $231.35 $139.99 −39% vs TNG
BeOne Medicines AG 6160 HK$255.80 HK$152.80 −40% vs TNG
Celltrion, Inc 068270 209,500 KRW 74,945 KRW −64% vs TNG
Royalty Pharma plc RPRX $68.97 $19.01 −72% vs TNG

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Transgene SA: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Transgene SA Fair Value". https://www.fairvalue-calculator.com/stock/TNG

Frequently asked questions

Is Transgene SA (TNG) overvalued or undervalued?
As of Nov 13, 2026, our estimate of fair value is €0.5291 versus a price of €0.7300, about 28% lower (overvalued).
What is the fair value of TNG?
Our estimate for Transgene SA is €0.5291 (as of Nov 13, 2026), built from audited fundamentals. The current price: €0.7300.
What is the quality score of TNG?
Transgene SA has a Quality Score of 24/100. 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 Transgene SA (TNG)?
Our calculated price target is the estimate of €0.5291 (as of Nov 13, 2026). Cautious scenario €0.3968, optimistic scenario €0.6614. 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 Transgene SA stock forecast for 2026?
Our estimate puts fair value at €0.5291, about 28% lower versus a price of €0.7300 (overvalued). Cautious scenario €0.3968, optimistic scenario €0.6614. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Transgene SA (TNG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Transgene SA it is €0.5291 per share (as of Nov 13, 2026), against a price of €0.7300.
Is Transgene SA stock overvalued or undervalued in 2026?
As of Nov 13, 2026, TNG trades above its calculated fair value: price €0.7300, fair value €0.5291, a gap of about −28% (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 TNG?
No. The price is what the market pays today (€0.7300); the fair value is what the company's own numbers justify (€0.5291). For Transgene SA the two are €0.2009 per share apart. That gap is exactly why we show both numbers side by side.
How much is Transgene SA worth?
The market values Transgene SA at about €200M (market capitalisation, as of Nov 13, 2026). Per share that is €0.7300; our models calculate a fair value of €0.5291 per share.
What do the bullish and bearish scenarios say about TNG?
Our models span a range for Transgene SA: cautious scenario €0.3968, base €0.5291, optimistic €0.6614 per share (as of Nov 13, 2026, price €0.7300). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of TNG?
The PEG ratio of Transgene SA is 3.08 (P/E divided by earnings growth, as of Nov 13, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Transgene SA (TNG)?
Balance-sheet figures for Transgene SA (as of Nov 13, 2026): return on equity −64.2%. They feed the Quality Score of 24/100, which measures business quality independently of the share price.
How far is TNG from its 52-week high?
Transgene SA trades at €0.7300, about 46% below its 52-week high of €1.36 and 8% above the low of €0.6780 (as of Nov 12, 2026). Distance from the high says nothing about value: that is what the fair value of €0.5291 is for.
Which stocks are comparable to Transgene SA?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Moderna, Inc, Regeneron Pharmaceuticals, Inc, CSL Limited, 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 Transgene SA stock attractive at the current price?
The data as of Nov 13, 2026: price €0.7300, calculated fair value €0.5291 (−28%), Quality Score 24/100. 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 14.3% above its aggregate fair value. Transgene SA 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 Transgene SA (TNG)?
The closing price on Nov 12, 2026 was €0.7300. Our estimate is €0.5291, about 28% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Transgene SA right now?
The price sits above even our optimistic bull case (€0.6614). The favourable scenario is already priced in. Weak quality (24/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Transgene SA

How large is the market capitalisation of Transgene SA (TNG)?
The market capitalisation of Transgene SA is €200M. 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 is the P/S ratio of Transgene SA (TNG)?
The price-to-sales ratio of Transgene SA is 33.6 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Transgene SA (TNG)?
Earnings per share at Transgene SA are €−0.1700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Transgene SA (TNG)?
The return on equity (ROE) of Transgene SA is −64.2% (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 Transgene SA (TNG)?
On an EBIT basis the return on assets of Transgene SA is −49.7% (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.
What is the operating margin of Transgene SA (TNG)?
The operating margin of Transgene SA is −559% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Transgene SA (TNG)?
Revenue at Transgene SA is growing −34.6% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Transgene SA (TNG) generate?
The free cash flow of Transgene SA is −€37.6M (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 Transgene SA (TNG) hold?
Transgene SA holds more cash than debt, €4.6M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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