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Why Immunovia stock moves

Immunovia was roughly unchanged, as the market fell.

Written after the close on ·

Why today

15,984 news analyzed today

Immunovia was roughly unchanged, as the market fell.

No company news from that session explains it.

Over the last five trading days, Immunovia rose sharply while the market was roughly flat.

Earlier, Immunovia published its Q3 report on Monday, which showed sales growth from its PancreaSure test and a larger rights issue plan.

Next, the company's rights units start trading on November 9.

Today's move of −0.27% was 0.1 times a normal day's 4.1%. OMX Stockholm 30 moved −1.01% on the same day.

Immunovia −0.27%OMX Stockholm 30 −1.01%A little stronger than the market

Earlier days →

See the chart in ChartCompass, with every move explained →

What analysts expect, and how often they have been right

Analysts’ estimates for Immunovia.

Immunovia earned more than expected in 3 out of 7 reports.

For comparison, about 46% of reports from Nordic companies beat the estimate in the last three years.

The share moved in the same direction as the earnings surprise in 3 out of 7 reports with a measured move, against about 63% of reports from Nordic companies.

Price targets

Latest price 0.04 SEK

Price targets
0.43

One analyst’s target is 0.43 SEK, +1050% relative to the latest price of 0.04 SEK. A target is the analyst’s estimate of a future share price.

Earnings against expectations, and the share’s reaction

Earnings against expectations, and the share’s reaction-27.6-19.8-12.0-4.23.62025-05-14: -24.00; Expected EPS: -0.1214/5’25−5.8%2025-08-28: -14.00; Expected EPS: -0.0928/8’25−26.4%2025-11-26: -10.00; Expected EPS: -0.0626/11’25+7.8%2026-02-24: -0.03; Expected EPS: -0.0624/2’26−12.9%2026-05-07: -0.03; Expected EPS: -0.047/5’26+17.0%2026-08-06: -0.03; Expected EPS: -0.046/8’26−3.5%2026-11-02: -0.03; Expected EPS: -0.022/11’26+2.8%Next reported quarter: expected earnings per share of -0.02.→11/02

Expected EPSAbove estimateBelow estimateAs expectedSEK

Percentages below show the share’s report-day move; labels are report dates.

Next reported quarter: expected earnings per share of -0.02 SEK (February 11). For the current fiscal year, expected earnings per share changed from -0.10 SEK three months ago to -0.10 SEK now. 2026 estimate: -0.10 SEK. 2027 estimate: -0.04 SEK. One analyst made these estimates.

Has the share price followed the business?

Price and earnings moved in the same direction: 1 out of 3 years. Across Nordic companies, that happens in about 60% of years. In 2025, the price changed −47% and earnings per share went from -0.62 SEK to -0.28 SEK.

Revenue, profit and market cap

Revenue, profit and market cap (m SEK)-3091335751,0182022: 1.152022: -168.0920222023: 1.572023: -309.4420232024: 0.932024: -76.5420242025: 0.692025: -145.912025Now2026: 3.2020262027: 17.3020272022: 896.928972023: 120.931212024: 139.631402025: 230.10230Now: 37.9138

RevenueProfitMarket capHatched bars: analysts’ estimates.m SEK

Market cap is 55.3 times 2025 revenue, against 783.3 in 2022. Profit in 2025: -146 m SEK.

Assets, liabilities and market cap

Assets, liabilities and market cap (m SEK)03296589872022: 300.592022: 56.7920222023: 98.682023: 31.6920232024: 33.042024: 21.3920242025: 88.212025: 23.452025Now2022: 896.928972023: 120.931212024: 139.631402025: 230.10230Now: 37.9138

AssetsLiabilitiesMarket capm SEK

Assets minus liabilities leave 64.8 m SEK for shareholders. Market cap is 0.6 times that equity.

Price and earnings moved in the same direction: 1 out of 3 years.Market cap (Now): 37.9 m SEKRevenue 2025: 0.7 m SEK

What the key figures say about Immunovia

The figures connect what Immunovia earns with what investors pay.

The line shows the share price in the same year, on its own scale. Hatched bars: analysts’ estimates.

Earnings per share-0.06 SEK
NowEarnings per share2022: -1.77222023: -2.04232024: -0.62242025: -0.28252026: -0.10262027: -0.04272022: 9.432023: 0.682024: 0.422025: 0.23

Profit divided by the number of shares. Each share represents this much of the earnings.

2022–2025: -2.04 SEK–-0.28 SEK. Peers: Inify Laboratories -0.97 NOK, BioPorto -0.01 DKK, Alligator Bioscience -0.54 SEK. 2026 estimate: -0.10 SEK (-0.10 SEK–-0.10 SEK). 2027 estimate: -0.04 SEK (-0.04 SEK–-0.04 SEK).

Revenue2.0 m SEK
NowRevenue2022: 1,145,000.00222023: 1,575,000.00232024: 931,000.00242025: 685,000.00252026: 3,200,000.00262027: 17,300,000.00272022: 9.432023: 0.682024: 0.422025: 0.23

What the company sold during the year.

2022–2025: 0.7 m SEK–1.6 m SEK. Peers: BioPorto 38.4 m DKK, Alligator Bioscience 0.9 m SEK. 2026 estimate: 3.2 m SEK (3.2 m SEK–3.2 m SEK). 2027 estimate: 17.3 m SEK (17.3 m SEK–17.3 m SEK).

Operating margin−3861.0%
NowOperating margin2022: -16,699.48222023: -18,832.70232024: -11,765.52242025: -11,744.82252022: 9.432023: 0.682024: 0.422025: 0.23

The percentage of revenue left after the costs of running the business.

2022–2025: −18832.7%–−11744.8%. Peers: Inify Laboratories −370.3%, BioPorto −213.7%, Alligator Bioscience −34004.9%.

Return on equity−225.3%
2025Return on equity2022: -68.95222023: -461.91232024: -657.06242025: -225.30252022: 9.432023: 0.682024: 0.422025: 0.23

Profit as a percentage of shareholders’ money in the company.

2022–2025: −657.1%–−68.9%. Peers: BioPorto −25.7%, Alligator Bioscience −1178.9%.

Market cap per unit of revenue (P/S)18.93
NowMarket cap per unit of revenue (P/S)2022: 783.33222023: 76.78232024: 149.98242025: 335.91252026: 11.85262027: 2.1927

What investors pay for each unit the company sells.

2022–2025: 76.78–783.33. Peers: BioPorto 12.77, Alligator Bioscience 39.39. 2026 estimate: 11.85. 2027 estimate: 2.19.

More key figures
Market cap / equity (P/B)3.74
NowMarket cap / equity (P/B)2022: 3.68222023: 1.81232024: 11.99242025: 3.5525

Market cap divided by shareholders’ equity, what remains after liabilities.

2022–2025: 1.81–11.99. Peers: BioPorto 5.96, Alligator Bioscience 0.27.

Free cash flow per share-0.08 SEK
NowFree cash flow per share2022: -1.86222023: -0.84232024: -0.29242025: -0.08252022: 9.432023: 0.682024: 0.422025: 0.23

Cash left after investments, divided by the number of shares.

2022–2025: -1.86 SEK–-0.08 SEK. Peers: BioPorto -0.16 DKK, Alligator Bioscience -0.03 SEK.

Equity ratio73.4%
2025Equity ratio2022: 81.11222023: 67.89232024: 35.26242025: 73.4225

The percentage of assets financed by shareholders’ equity.

2022–2025: 35.3%–81.1%.

What to watch next, and why

The earnings report shows how Immunovia's revenue and profit have changed.

  • Earnings report

    The earnings report shows how Immunovia's revenue and profit have changed.

    Add to calendar

Earnings report

Next report: · Add to calendar · Google Calendar

Report day6.8%

Normal day4.1%

On its last 16 report days Immunovia usually moved about 6.8%. On a normal day it moves 4.1%.

+2.79% Why? −3.52% +17.01% −12.92%

10,000 SEK in Immunovia bought on November 7, 2016 is worth 11 SEK today, with dividends reinvested.

What would 10,000 SEK in Immunovia be worth today? →

What would 10,000 SEK in Immunovia be worth today?

11 SEK

with dividends reinvested, bought on November 7, 2016.

At worst it was worth 9 SEK (October 29, 2026).

The five biggest days of the journey

· +196.9% · the whole market fell 0.1% the same day

· +124.8% · the whole market fell 0.4% the same day

· +93.8% · the whole market fell 2.4% the same day

· +90.4% · the whole market rose 0.5% the same day

· +73.6% · the whole market fell 0.4% the same day

Earlier days

  • +12.49% market −0.11% Immunovia (the company behind the PancreaSure pancreatic cancer test, listed on Nasdaq Stockholm) rose sharply over the week, while the broader Stockholm market was roughly flat. Read →

    Immunovia (the company behind the PancreaSure pancreatic cancer test, listed on Nasdaq Stockholm) rose sharply over the week, while the broader Stockholm market was roughly flat.

    The biggest driver was the third-quarter report on 2 November, which showed sales growth and a lower cash burn, with sales in line with expectations.

    Traders likely also reacted to the planned rights issue of about SEK 63 million, which dilutes existing shareholders.

  • −6.95% market −0.32% Immunovia fell sharply on the rights issue prospectus. Read →

    Immunovia fell sharply on the rights issue prospectus.

    Immunovia fell more than the market, which slipped slightly.

    Over the last five trading days the stock rose very sharply, a very big move for Immunovia, while the market rose slightly.

    The rights issue record date is 5 November 2026, and the subscription price is SEK 0.06 per unit.

  • +12.67% market +0.83% Immunovia rose, moving well ahead of the market. Read →

    Immunovia rose, moving well ahead of the market.

    Its own news that day was a new rights issue prospectus, which is a share offer to existing holders, and a new offer that size often weighs on a share price.

    The rise therefore has no clear company explanation in the news.

    Over the last five trading days Immunovia fell sharply while OMX Stockholm 30 rose slightly, a big move against the market.

    Trading volume was about twice a normal session, and the next earnings report is on 11 February 2027.

  • +4.66% market −0.08% Immunovia rose that day as the market stayed roughly flat. Read →

    Immunovia rose that day as the market stayed roughly flat.

    Nasdaq Stockholm put the shares under observation that day, a warning about uncertainty in the company's finances.

    Trading was heavier than usual.

    Immunovia also announced PancreaSure accuracy data for a presentation on November 3.

    Over the last five trading days the shares fell very sharply while the market rose slightly.

  • +2.79% market +0.48% Immunovia rose clearly, beating OMX Stockholm 30. Read →

    Immunovia rose clearly, beating OMX Stockholm 30.

    In the last session Immunovia rose clearly, while OMX Stockholm 30 rose slightly.

    The Q3 2026 report showed higher PancreaSure sales, and trading was well above normal.

    Over the last five trading days the stock fell very sharply while the market rose clearly, a move about four times a normal five-day stretch.

    Likely drivers include a rights issue of about SEK 63 million, final terms at a 25 percent discount, and heavy dilution.

  • +13.86% market −0.29% Immunovia rose very sharply. Read →

    Immunovia rose very sharply.

    Immunovia rose very sharply that day, while OMX Stockholm 30 fell slightly, so it moved against the market.

    That day's rise comes with no company news explaining it, and the stock's move was about five times a normal day.

    Earlier this week, the board's rights issue terms were set and approved, a share offer that dilutes existing holders.

  • −30.42% market +3.01% Immunovia fell very sharply over the week, moving against a market that rose clearly. Read →

    Immunovia fell very sharply over the week, moving against a market that rose clearly.

    The move was very big for the stock, about five times its usual weekly swing.

    Trading was heavy, well above its usual level, as a rights issue was being approved.

    The rights issue lets existing shareholders buy new shares at a discount, and the new shares dilute current holders, meaning each share represents a smaller slice of the company.

  • −36.78% market +0.41% Immunovia fell, moving against a market that rose slightly. Read →

    Immunovia fell, moving against a market that rose slightly.

    Company news explains it: the extraordinary general meeting approved a rights issue, with the final subscription price set at 0.03 SEK per share and heavy dilution.

    Trading volume was well above its usual level.

    Over the last five trading days the shares also fell very sharply while the OMX Stockholm 30 rose sharply.

    The rights issue is a share sale to existing owners at a steep discount, which usually weighs on the price.

  • −3.48% market +0.96% Immunovia fell clearly, without company news. Read →

    Immunovia fell clearly, without company news.

    No company news explains the move.

    Over the last five trading days Immunovia fell sharply while the market was roughly flat, a big move for this stock.

    Without company news, the likely drivers are the stock's own selling pressure and investor caution around its small-cap diagnostics business.

    The next earnings report is due Monday 2 November 2026.

  • −18.74% market −3.67% Immunovia fell sharply over the last five trading days, a bigger drop than the broader market. Read →

    Immunovia fell sharply over the last five trading days, a bigger drop than the broader market.

    Immunovia has had no company news in this period, so no single event explains the decline.

    Over the same days the OMX Stockholm 30 index also fell sharply, pointing to a broad sell-off in Swedish shares.

    Immunovia's move was roughly three times a normal five-day stretch for the stock, so the decline was large.

  • −5.19% market −2.51% Immunovia fell clearly last session; no company news explains it. Read →

    Immunovia fell clearly last session; no company news explains it.

    Immunovia fell clearly in the last session, while OMX Stockholm 30 fell sharply, so it moved more than the market.

    No company news from that session explains the drop.

    Over the last five trading days, the share fell very sharply, a very big move for Immunovia, which has happened about three times in the past year.

    Likely reasons are the broad market weakness and the fact that trading was well below normal, so the price moved on few shares.

  • −7.89% market +0.17% Immunovia fell sharply; no company news explains it. Read →

    Immunovia fell sharply; no company news explains it.

    Immunovia fell sharply in the last session, while OMX Stockholm 30 was roughly flat.

    Trading was about twice a normal day, so the move drew heavy interest.

    No company news from that session explains the drop.

    Over the last five trading days, Immunovia rose slightly, while OMX Stockholm 30 fell slightly.

  • +4.37% market −0.89% Immunovia rose sharply last session; no company news explains it. Read →

    Immunovia rose sharply last session; no company news explains it.

    Its shares rose clearly in the last session, while the OMX Stockholm 30 index fell clearly, so the stock moved against the market.

    No company news from that session explains the rise.

    Over the last five trading days, the shares rose slightly, while the market fell slightly.

  • −9.59% market −0.89% Immunovia fell very sharply. Read →

    Immunovia fell very sharply.

    Its shares fell far more than the OMX Stockholm 30, the main index of large Swedish companies, which also fell clearly that day.

    Over the last five trading days, Immunovia rose clearly while the market was roughly flat.

    Trading was well below its usual level, so the fall came on thin trading.

    The next earnings report is due on Monday 2 November 2026.

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