Raymond James slashes price target on NexImmune Inc. [NEXI] – find out why.


NexImmune Inc. [NASDAQ: NEXI] stock went on an upward path that rose over 24.49% on Friday, amounting to a one-week price increase of more than 5.17%. The company report on July 14, 2022 that NexImmune Announces IND Clearance by the US FDA for NEXI-003 for the Treatment of HPV-Related Cancers.

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First IND for NexImmune’s AIM nanoparticle platform in solid tumors.

IND clearance enables commencement of a clinical trial to evaluate NEXI-003, an autologous antigen-specific T cell product (CD3+/CD4-), in patients with relapsed or refractory human papillomavirus (HPV)-related cancers.

Over the last 12 months, NEXI stock dropped by -85.91%. The one-year NexImmune Inc. stock forecast points to a potential upside of 73.86. The average equity rating for NEXI stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $33.60 million, with 22.84 million shares outstanding and 14.83 million shares in the current float. Compared to the average trading volume of 201.78K shares, NEXI stock reached a trading volume of 57372357 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on NexImmune Inc. [NEXI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NEXI shares is $7.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NEXI stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for NexImmune Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 01, 2021. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on March 09, 2021, representing the official price target for NexImmune Inc. stock. Previously, the target price had yet another raise to $35, while Barclays analysts kept a Overweight rating on NEXI stock.

The Average True Range (ATR) for NexImmune Inc. is set at 0.25 The Price to Book ratio for the last quarter was 0.59, with the Price to Cash per share for the same quarter was set at 3.54.

NEXI Stock Performance Analysis:

NexImmune Inc. [NEXI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.17. With this latest performance, NEXI shares dropped by -10.29% in over the last four-week period, additionally sinking by -51.84% over the last 6 months – not to mention a drop of -85.91% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NEXI stock in for the last two-week period is set at 50.61, with the RSI for the last a single of trading hit 55.47, and the three-weeks RSI is set at 48.10 for NexImmune Inc. [NEXI]. The present Moving Average for the last 50 days of trading for this stock 2.0288, while it was recorded at 1.5860 for the last single week of trading, and 4.9941 for the last 200 days.

Insight into NexImmune Inc. Fundamentals:

NexImmune Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.10 and a Current Ratio set at 10.10.

NexImmune Inc. [NEXI] Insider Position Details

There are presently around $17 million, or 42.00% of NEXI stock, in the hands of institutional investors. The top three institutional holders of NEXI stocks are: ARROWMARK COLORADO HOLDINGS LLC with ownership of 1,326,043, which is approximately -26.463% of the company’s market cap and around 12.30% of the total institutional ownership; ARTAL GROUP S.A., holding 1,200,000 shares of the stock with an approximate value of $2.2 million in NEXI stocks shares; and SLATE PATH CAPITAL LP, currently with $1.69 million in NEXI stock with ownership of nearly 0% of the company’s market capitalization.

Positions in NexImmune Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 19 institutional holders increased their position in NexImmune Inc. [NASDAQ:NEXI] by around 656,039 shares. Additionally, 23 investors decreased positions by around 1,407,121 shares, while 16 investors held positions by with 7,482,649 shares. The mentioned changes placed institutional holdings at 9,545,809 shares, according to the latest SEC report filing. NEXI stock had 12 new institutional investments in for a total of 500,910 shares, while 6 institutional investors sold positions of 495,534 shares during the same period.