NexImmune (NASDAQ:NEXI) Upgraded to Buy at Zacks Investment Research

NexImmune (NASDAQ:NEXIGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The brokerage presently has a $2.00 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 1.01% from the stock’s previous close.

According to Zacks, “NexImmune Inc. is a clinical-stage biotechnology company. It engages in developing a novel approach to immunotherapy designed to employ the body’s own T cells to generate a specific, potent and durable immune response that mimics natural biology. NexImmune Inc. is based in GAITHERSBURG, Md. “

Other analysts have also issued research reports about the stock. Raymond James lowered their price objective on shares of NexImmune from $21.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 22nd. Barclays lifted their target price on shares of NexImmune from $4.00 to $7.00 and gave the stock an “overweight” rating in a research note on Friday, April 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of NexImmune in a research note on Friday, April 1st.

NEXI opened at $1.98 on Friday. The company’s 50-day moving average is $2.85 and its 200 day moving average is $4.05. NexImmune has a fifty-two week low of $1.72 and a fifty-two week high of $19.50. The firm has a market capitalization of $45.23 million, a P/E ratio of -0.78 and a beta of 2.00.

NexImmune (NASDAQ:NEXIGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.04. As a group, analysts predict that NexImmune will post -2.16 earnings per share for the current year.

In related news, Director Sol J. Barer purchased 30,000 shares of the business’s stock in a transaction on Friday, March 18th. The stock was acquired at an average price of $2.11 per share, with a total value of $63,300.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kristi Jones purchased 10,000 shares of the business’s stock in a transaction on Tuesday, March 29th. The stock was bought at an average cost of $3.74 per share, with a total value of $37,400.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 128,978 shares of company stock valued at $378,359. 18.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of NexImmune by 259.4% in the 3rd quarter. Royal Bank of Canada now owns 2,433 shares of the company’s stock worth $36,000 after acquiring an additional 1,756 shares during the last quarter. Citigroup Inc. raised its holdings in NexImmune by 935.7% during the 3rd quarter. Citigroup Inc. now owns 3,335 shares of the company’s stock valued at $50,000 after buying an additional 3,013 shares during the last quarter. Metropolitan Life Insurance Co NY bought a new stake in NexImmune during the 3rd quarter valued at $88,000. Wells Fargo & Company MN raised its holdings in NexImmune by 266.4% during the 2nd quarter. Wells Fargo & Company MN now owns 7,343 shares of the company’s stock valued at $120,000 after buying an additional 5,339 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in NexImmune during the 3rd quarter valued at $114,000. 58.40% of the stock is owned by institutional investors and hedge funds.

NexImmune Company Profile (Get Rating)

NexImmune, Inc, a clinical-stage biotechnology company, engages in developing therapies with curative potential for patients with cancer and other life-threatening immune-mediated diseases. It develops approaches to T cell immunotherapies based on its proprietary Artificial Immune Modulation, a nanoparticle technology platform.

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