Cantor Fitzgerald launched coverage of NexImmune (NASDAQ:NEXI) with an “overweight” rating and price target of $35. The stock closed at $20.63 on March 8.
NexImmune is developing a novel approach in cancer immunotherapy that uses the body’s own T-cells to generate an immune response to tumors through programming dendritic cells, which is how T-cells get instructions.
Analyst Alethia Young writes that this technology is called Artificial Immune Modulation and uses nanoparticles that function as synthetic dendritic cells. Although the company’s platform is modular and has broader use than hematology/oncology, she said NexImmune is starting in hematology with NEXI-001 for AML and NEXI-002 for multiple myeloma.
Currently, both programs are in the clinic, and NEXI-001 had early data that was presented at the American Society of Hematology meeting in 2020.
“Our NexImmune thesis is that over the next 12 months, we believe this novel and differentiated platform will generate clinical data that also show differentiated efficacy and safety due to better potency, persistence and precision than other competitive therapies,” Ms. Young said.
