The stock of NexImmune (NASDAQ: NEXI) shot up by around 7.5% in early morning trading on Thursday following news of its service agreement with Selexis, a life sciences company. NexImmune is a clinical-stage biotechnology company that is developing novel immunotherapies aimed at employing the body’s own T-cells to fight cancer and other diseases.
The company’s service agreement with Selexis will enable it to develop cell lines targeting rare cancers and autoimmune diseases using Selexis’ SUREtechnology Platform and to advance two human leukocyte antigen (HLAs) that can be used to expand treatments to more patients.
This agreement will result in significantly reducing the “time, effort, and costs associated with developing high-performance mammalian cell lines.”
Is NEXI a Buy, Sell, or Hold?
The stock scores a Strong Buy consensus rating based on four unanimous Buys.
NEXI’s average price prediction of $3.50 implies that the stock offers an upside potential of 158.3%
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