IMV Inc. price target lowered to $19 from $65 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on IMV Inc. to $19 from $65 after increasing its discount rate to 35% from its usual 15% to account for the ongoing financial risk of the company and stated plans to seek strategic options. Following the recent strategic reorganization that reduced the workforce by approximately one-third, IMV is currently fully concentrated on the validation of its lead asset, MVP-S, as an effective T-cell activating therapeutic vaccine candidate for hematologic and solid tumors, H.C. Wainwright notes. The firm keeps a Buy rating on the shares following Q4 and full-year results.