IMV (NASDAQ:IMV) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of IMV (NASDAQ:IMV) from a hold rating to a buy rating in a research report released on Tuesday, Zacks.com reports. The firm currently has $2.00 price objective on the stock.

According to Zacks, “IMV Inc. is a clinical-stage immuno-oncology company. Its proprietary drug development platform provides a patented delivery formulation which enables controlled and prolonged exposure of antigens to the immune system. The company’s pipeline consists of DPX-Survivac, DPX-E7 and DPX-RSV which are in clinical stage. IMV Inc. is based in Halifax, Canada. “

Several other equities research analysts also recently issued reports on IMV. Raymond James lowered their price objective on shares of IMV from $3.00 to $2.00 and set a market perform rating for the company in a research report on Friday, July 16th. National Bank Financial reissued a sector perform market weight rating on shares of IMV in a research report on Wednesday, August 11th. Finally, Wells Fargo & Company assumed coverage on shares of IMV in a research report on Friday, July 23rd. They set an overweight rating and a $1.38 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $2.66.

Shares of NASDAQ:IMV opened at $1.68 on Tuesday. IMV has a 52 week low of $1.31 and a 52 week high of $5.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.11 and a current ratio of 5.11. The company has a market capitalization of $138.00 million, a PE ratio of -4.00 and a beta of 1.51. The company has a 50 day moving average price of $1.71 and a two-hundred day moving average price of $2.37.

IMV (NASDAQ:IMV) last issued its earnings results on Wednesday, August 11th. The company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. IMV had a negative net margin of 11,386.18% and a negative return on equity of 99.76%. The firm had revenue of $0.04 million during the quarter. On average, sell-side analysts forecast that IMV will post -0.39 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. LexAurum Advisors LLC acquired a new stake in shares of IMV during the 2nd quarter worth about $72,000. Prentiss Smith & Co. Inc. lifted its stake in shares of IMV by 85.2% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 43,474 shares of the company’s stock worth $95,000 after buying an additional 20,000 shares during the last quarter. Bank of Montreal Can increased its position in IMV by 59.5% during the first quarter. Bank of Montreal Can now owns 140,623 shares of the company’s stock worth $402,000 after acquiring an additional 52,445 shares during the period. Morgan Stanley increased its position in IMV by 13,722.0% during the second quarter. Morgan Stanley now owns 41,466 shares of the company’s stock worth $91,000 after acquiring an additional 41,166 shares during the period. Finally, Millennium Management LLC bought a new position in IMV during the second quarter worth about $69,000. Institutional investors own 11.01% of the company’s stock.

About IMV

IMV, Inc is a clinical-stage biopharmaceutical company that engages in providing a novel class of cancer immunotherapies and vaccines against infectious diseases including COVID-19. The company leverages its delivery platform (DPX) that programs immune cells directly within the human body to produce robust and sustained target killing capabilities.

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