Zacks Investment Research Downgrades IMV (NYSE:IMV) to Sell

IMV (NYSE:IMV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

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. “

Other research analysts have also issued reports about the company. Raymond James set a $10.00 price target on IMV and gave the company an “outperform” rating in a report on Thursday, November 7th. HC Wainwright reissued a “buy” rating and set a $11.50 price target on shares of IMV in a report on Monday. Wells Fargo & Co began coverage on IMV in a report on Monday, October 28th. They set a “market perform” rating on the stock. Finally, Echelon Wealth Partners reissued a “buy” rating and set a $12.25 price target on shares of IMV in a report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $9.60.

Shares of NYSE IMV opened at $2.59 on Wednesday. IMV has a 1-year low of $2.25 and a 1-year high of $7.07. The business’s fifty day moving average price is $2.70 and its two-hundred day moving average price is $3.13.

IMV (NYSE:IMV) last issued its earnings results on Friday, November 8th. The company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.03). The business had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $0.05 million.

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can increased its holdings in shares of IMV by 17.5% during the second quarter. Bank of Montreal Can now owns 88,889 shares of the company’s stock valued at $260,000 after purchasing an additional 13,228 shares during the period. Hartford Financial Management Inc. increased its holdings in shares of IMV by 9.6% during the third quarter. Hartford Financial Management Inc. now owns 38,098 shares of the company’s stock valued at $94,000 after purchasing an additional 3,348 shares during the period. Royal Bank of Canada increased its holdings in shares of IMV by 3.6% during the second quarter. Royal Bank of Canada now owns 98,676 shares of the company’s stock valued at $288,000 after purchasing an additional 3,453 shares during the period. Citadel Advisors LLC acquired a new position in shares of IMV during the second quarter valued at $37,000. Finally, Morgan Stanley increased its holdings in shares of IMV by 260.5% during the second quarter. Morgan Stanley now owns 90,368 shares of the company’s stock valued at $264,000 after purchasing an additional 65,300 shares during the period.

IMV Company Profile

IMV, Inc is a clinical-stage biopharmaceutical company, which engages in the development of cancer immunotherapies and infectious disease vaccines. The firm’s patented platform, DepoVax, provides controlled and prolonged exposure of antigens and adjuvant to the immune system. The company was founded by Warwick Kimmins and Brian Lowe on March 28, 2000 and is headquartered in Halifax, Canada.

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