Zacks Investment Research downgraded shares of IMV (NYSE:IMV) from a buy rating to a hold rating in a research report sent to investors on Thursday, 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. “

A number of other equities analysts have also recently issued reports on the stock. HC Wainwright set a $11.50 price objective on shares of IMV and gave the company a buy rating in a research report on Monday, September 30th. Raymond James set a $10.00 price objective on shares of IMV and gave the company an outperform rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. IMV presently has a consensus rating of Buy and an average price target of $8.88.

NYSE:IMV traded up $0.22 during trading hours on Thursday, reaching $2.96. The company’s stock had a trading volume of 6,809 shares, compared to its average volume of 20,842. The firm has a 50-day simple moving average of $2.81 and a 200-day simple moving average of $3.24. IMV has a 1 year low of $2.25 and a 1 year high of $7.07.

IMV (NYSE:IMV) last issued its earnings results on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The business had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.07 million.

Hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its position in shares of IMV by 17.5% in the second quarter. Bank of Montreal Can now owns 88,889 shares of the company’s stock valued at $260,000 after acquiring an additional 13,228 shares during the period. Citadel Advisors LLC purchased a new position in shares of IMV in the second quarter valued at about $37,000. Royal Bank of Canada increased its position in shares of IMV by 3.6% in the second quarter. Royal Bank of Canada now owns 98,676 shares of the company’s stock valued at $288,000 after acquiring an additional 3,453 shares during the period. Finally, Morgan Stanley increased its position in shares of IMV by 260.5% in the second quarter. Morgan Stanley now owns 90,368 shares of the company’s stock valued at $264,000 after acquiring 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.

Further Reading: Mutual Funds

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