IMV Inc. (NASDAQ:IMV) Stock Makes Another Bullish Move: Here is Why

IMV Inc. (NASDAQ:IMV) jumped 26% after soaring 27% in the past week as investors respond positively after Wells Fargo’s Nick Abbot initiated coverage in the stock with a “Buy” rating and a price target of $14.

The analysts said there is considerable upside potential on the stock from IMV’s current price because of various near-term and potentially value-creating events for surviving vaccine product maveropepimut-S expected in Q3. In addition, the update will establish an enrichment strategy for patients to employ in the registration-directed study to commence by year-end 2021.

Equally, combination data for Stage 2 KEYTRUDA in urothelial bladder cancer and MSS-high solid tumors, if positive, will support the initiation of more registration-directed studies. Preliminary stage 1 analysis of the registration-directed diffuse large B cell lymphoma stud, if attained, could significantly de-risk the study and initial data from the neoadjuvant HER2-ve or ER+ve breast cancer study. So, in the coming weeks, IMV is a stock to watch.

Market Reaction:

On Monday, IMV stock soared 25.77% at $2.05 with more than 61.52 million shares, compared to its average volume of 524k shares. The stock has moved within a range of $1.9000 – 2.4100 after opening the trade at $2.27. Over the past 52-week, the stock has been trading within a range of $1.3100 – 5.7300.