IMV (NYSE:IMV) Downgraded by Zacks Investment Research to “Hold”

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Zacks Investment Research cut shares of IMV (NYSE:IMV) from a buy rating to a hold rating in a report released on Saturday morning, 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. “

Several other research firms have also weighed in on IMV. Raymond James set a $3.00 price target on IMV and gave the company a market perform rating in a research report on Wednesday, November 11th. Industrial Alliance Securities started coverage on IMV in a research report on Tuesday, July 21st. They set a buy rating and a $10.00 price target on the stock. National Bank Financial lowered IMV from an outperform market weight rating to a sector perform market weight rating in a research report on Friday, August 7th. Finally, HC Wainwright restated a buy rating and set a $13.00 price target on shares of IMV in a research report on Wednesday, August 12th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $7.66.

Shares of IMV stock opened at $3.41 on Friday. IMV has a fifty-two week low of $1.35 and a fifty-two week high of $6.82. The business’s 50 day moving average price is $3.69 and its 200-day moving average price is $3.77.

IMV (NYSE:IMV) last issued its quarterly earnings data on Thursday, November 12th. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01).

Hedge funds and other institutional investors have recently modified their holdings of the company. Wedbush Securities Inc. purchased a new stake in shares of IMV in the third quarter worth approximately $52,000. Creative Planning purchased a new stake in shares of IMV in the second quarter worth approximately $156,000. Morgan Stanley raised its holdings in shares of IMV by 380.2% in the first quarter. Morgan Stanley now owns 257,005 shares of the company’s stock worth $448,000 after buying an additional 203,487 shares during the period. Scotia Capital Inc. increased its holdings in IMV by 126.1% during the 2nd quarter. Scotia Capital Inc. now owns 29,963 shares of the company’s stock worth $94,000 after purchasing an additional 16,709 shares during the period. Finally, Wells Fargo & Company MN purchased a new position in IMV during the 1st quarter worth $45,000.

About IMV

IMV Inc, a clinical-stage immuno-oncology company, together with its subsidiaries, develops products based on its platform and products with a primary focus on T cell activating therapies for cancer. The company's DPX drug development platform provides a patented delivery formulation that enables controlled and prolonged exposure of antigens to the immune system.

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