Immunovia (OM:IMMNOV) - Share price, News & Analysis

IMMNOV fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	3/6
Past Performance	0/6
Financial Health	6/6
Dividends	0/6

IMMNOV Stock Overview

Immunovia AB (publ), a diagnostic company, develops and commercializes blood tests in Sweden and internationally.

Rewards

Revenue is forecast to grow 58.92% per year

Risk Analysis

Highly volatile share price over the past 3 months

Makes less than USD$1m in revenue (SEK903K)

Currently unprofitable and not forecast to become profitable over the next 3 years

Does not have a meaningful market cap (SEK674M)

Immunovia Competitors

Q-linea

OM:QLINEA

kr2.3b

Integrum

OM:INTEG B

kr830.7m

Iconovo

OM:ICO

kr522.0m

BrainCool

NGM:BRAIN

kr373.7m

Price History & Performance

Summary of all time highs, changes and price drops for Immunovia
Historical stock prices
Current Share Price	kr29.78
52 Week High	kr141.50
52 Week Low	kr22.10
Beta	1.53
1 Month Change	-21.88%
3 Month Change	-23.64%
1 Year Change	-70.37%
3 Year Change	-82.25%
5 Year Change	-73.41%
Change since IPO	0.27%

Recent News & Updates

May 13

Is Immunovia (STO:IMMNOV) In A Good Position To Invest In Growth?

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although...

Shareholder Returns

	IMMNOV	SE Medical Equipment	SE Market
7D	-3.0%	0.6%	-2.9%
1Y	-70.4%	-37.2%	-25.5%

Return vs Industry: IMMNOV underperformed the Swedish Medical Equipment industry which returned -37.2% over the past year.

Return vs Market: IMMNOV underperformed the Swedish Market which returned -25.5% over the past year.

Price Volatility

Is IMMNOV's price volatile compared to industry and market?
IMMNOV volatility
IMMNOV Average Weekly Movement	14.4%
Medical Equipment Industry Average Movement	7.8%
Market Average Movement	7.4%
10% most volatile stocks in SE Market	12.2%
10% least volatile stocks in SE Market	4.7%

Stable Share Price: IMMNOV is more volatile than 90% of Swedish stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: IMMNOV's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of Swedish stocks.

About the Company

Founded	Employees	CEO	Website
2007	69	Philipp Mathieu	https://www.immunovia.com

Immunovia AB (publ), a diagnostic company, develops and commercializes blood tests in Sweden and internationally. The company’s product includes IMMray PanCan-d, a blood-based test for the early detection of pancreatic cancer. It also develops research projects for lung cancer.

Immunovia Fundamentals Summary

How do Immunovia's earnings and revenue compare to its market cap?
IMMNOV fundamental statistics
Market Cap	kr673.97m
Earnings (TTM)	-kr176.63m
Revenue (TTM)	kr903.00k

746.6x

P/S Ratio

-3.8x

P/E Ratio

Is IMMNOV overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
IMMNOV income statement (TTM)
Revenue	kr903.00k
Cost of Revenue	-kr3.01m
Gross Profit	kr3.91m
Other Expenses	kr180.54m
Earnings	-kr176.63m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 24, 2022

Earnings per share (EPS)	-7.80
Gross Margin	432.89%
Net Profit Margin	-19,560.69%
Debt/Equity Ratio	0%

How did IMMNOV perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is IMMNOV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Price-To-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IMMNOV?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for IMMNOV. This is calculated by dividing IMMNOV's market cap by their current preferred multiple.
What is IMMNOV's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	kr673.97m

IMMNOV key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	525.9x
Enterprise Value/EBITDA	-2.7x
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does IMMNOV's PB Ratio compare to its peers?

IMMNOV PB Ratio vs Peers

The above table shows the PB ratio for IMMNOV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PB	Estimated Growth	Market Cap
Peer Average	6.4x
QLINEA Q-linea	6.3x	22.2%	kr2.3b
INTEG B Integrum	5.2x	-64.2%	kr830.7m
ICO Iconovo	4.1x	9.8%	kr522.0m
BRAIN BrainCool	9.9x	n/a	kr373.7m
IMMNOV Immunovia	1.7x	48.6%	kr674.0m

Price-To-Book vs Peers: IMMNOV is good value based on its Price-To-Book Ratio (1.7x) compared to the peer average (6.4x).

Price to Earnings Ratio vs Industry

How does IMMNOV's PE Ratio compare vs other companies in the SE Medical Equipment Industry?

Price-To-Book vs Industry: IMMNOV is good value based on its Price-To-Book Ratio (1.7x) compared to the Swedish Medical Equipment industry average (3.6x)

Price to Book Ratio vs Fair Ratio

What is IMMNOV's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IMMNOV PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	1.7x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate IMMNOV's Price-To-Book Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of IMMNOV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate IMMNOV's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate IMMNOV's fair value for valuation analysis.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate IMMNOV's PEG Ratio to determine if it is good value.

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Future Growth

How is Immunovia forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

48.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: IMMNOV is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: IMMNOV is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: IMMNOV is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: IMMNOV's revenue (58.9% per year) is forecast to grow faster than the Swedish market (5.4% per year).

High Growth Revenue: IMMNOV's revenue (58.9% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: IMMNOV's Return on Equity is forecast to be very high in 3 years time (44%).

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Past Performance

How has Immunovia performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-29.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: IMMNOV is currently unprofitable.

Growing Profit Margin: IMMNOV is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: IMMNOV is unprofitable, and losses have increased over the past 5 years at a rate of 29.3% per year.

Accelerating Growth: Unable to compare IMMNOV's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: IMMNOV is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (6.3%).

Return on Equity

High ROE: IMMNOV has a negative Return on Equity (-45.63%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Immunovia's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: IMMNOV's short term assets (SEK249.4M) exceed its short term liabilities (SEK26.4M).

Long Term Liabilities: IMMNOV's short term assets (SEK249.4M) exceed its long term liabilities (SEK36.1M).

Debt to Equity History and Analysis

Debt Level: IMMNOV is debt free.

Reducing Debt: IMMNOV has not had any debt for past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: IMMNOV has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: IMMNOV has sufficient cash runway for 1.5 years if free cash flow continues to reduce at historical rates of 24.4% each year.

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Dividend

What is Immunovia current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate IMMNOV's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate IMMNOV's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if IMMNOV's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if IMMNOV's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as IMMNOV has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

0.5yrs

Average management tenure

CEO

Philipp Mathieu

0.50

Tenure

Mr. Philipp Mathieu serves as Chief Executive Officer and President at Immunovia AB (publ) since June 02, 2022. Mr. Mathieu served as an Acting CEO & President of Immunovia AB (publ) since January 20, 2022...

Leadership Team

Experienced Management: IMMNOV's management team is not considered experienced ( 0.5 years average tenure), which suggests a new team.

Board Members

Experienced Board: IMMNOV's board of directors are considered experienced (5 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/07/06 00:00
End of Day Share Price	2022/07/06 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31