IMV (NASDAQ:IMV) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of IMV (NASDAQ:IMV) from a hold rating to a sell rating in a research report released on Wednesday 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 equities analysts also recently weighed in on the stock. BidaskClub downgraded shares of IMV from a hold rating to a sell rating in a research note on Saturday, October 10th. Raymond James set a $3.00 price target on shares of IMV and gave the stock a market perform rating in a research note on Tuesday, December 29th. Finally, ValuEngine raised shares of IMV from a hold rating to a buy rating in a research note on Friday, December 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $7.66.

NASDAQ:IMV opened at $3.30 on Wednesday. The firm has a market capitalization of $221.40 million, a P/E ratio of -7.17 and a beta of 1.76. IMV has a 1-year low of $1.35 and a 1-year high of $6.82. The company’s fifty day moving average price is $3.15 and its 200-day moving average price is $3.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.03 and a quick ratio of 7.03.

IMV (NASDAQ:IMV) last released 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 ($0.08) by ($0.02). The business had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.02 million. IMV had a negative return on equity of 180.04% and a negative net margin of 9,661.54%. Equities analysts anticipate that IMV will post -0.36 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in IMV. Wedbush Securities Inc. acquired a new stake in shares of IMV during the third quarter valued at about $52,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of IMV during the third quarter valued at about $73,000. Scotia Capital Inc. increased its position in shares of IMV by 29.3% during the third quarter. Scotia Capital Inc. now owns 38,739 shares of the company’s stock valued at $172,000 after acquiring an additional 8,776 shares during the last quarter. First City Capital Management Inc. increased its position in shares of IMV by 72.9% during the third quarter. First City Capital Management Inc. now owns 50,138 shares of the company’s stock valued at $179,000 after acquiring an additional 21,137 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of IMV by 4,036.2% during the third quarter. Morgan Stanley now owns 40,824 shares of the company’s stock valued at $182,000 after acquiring an additional 39,837 shares during the last quarter. Institutional investors and hedge funds own 14.23% of the company’s stock.

About IMV

IMV Inc operates as a clinical-stage biopharmaceutical company. It is developing cancer immunotherapies and vaccines against infectious diseases, including COVID-19. The company's delivery platform (DPX) programs immune cells directly within the human body to produce robust, specific, and sustained target killing capabilities.

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