GenVec Inc. (GNVC) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of GenVec Inc. (NASDAQ:GNVC) from a hold rating to a buy rating in a report issued on Wednesday morning. They currently have $0.50 price target on the biopharmaceutical company’s stock.
According to Zacks, “GenVec, Inc. is a biopharmaceutical company developing novel gene-based therapeutic drugs and vaccines. Each of the Company’s product candidates uses patent-protected technology to deliver genes that produce beneficial proteins. GenVec’s lead product, TNFerade is currently in a pivotal Phase II/III study in locally advanced pancreatic cancer; Phase II studies are in progress in rectal cancer and metastatic melanoma; and Phase I/II studies are in progress in head and neck cancer. GenVec also uses its proprietary adenovector technology to develop vaccines for infectious diseases including HIV, malaria, seasonal and pandemic flu, and foot-and-mouth disease. “
Other equities analysts have also recently issued research reports about the company. Roth Capital reissued a buy rating and set a $2.00 price target (down previously from $8.00) on shares of GenVec in a report on Tuesday, July 26th. Rodman & Renshaw reissued a buy rating and set a $2.30 price target on shares of GenVec in a report on Monday, June 20th.
Shares of GenVec (NASDAQ:GNVC) traded up 0.0000% on Wednesday, hitting $0.4121. The stock had a trading volume of 250 shares. GenVec has a 52 week low of $0.35 and a 52 week high of $3.69. The company’s market cap is $9.37 million. The stock’s 50-day moving average price is $0.55 and its 200 day moving average price is $0.64.
GenVec (NASDAQ:GNVC) last posted its quarterly earnings results on Friday, August 5th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. GenVec had a negative return on equity of 83.14% and a negative net margin of 927.05%. On average, analysts predict that GenVec will post ($0.29) EPS for the current year.
A hedge fund recently bought a new stake in GenVec stock. Sabby Management LLC acquired a new position in GenVec Inc. (NASDAQ:GNVC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,625,435 shares of the biopharmaceutical company’s stock, valued at approximately $931,000. Sabby Management LLC owned approximately 7.15% of GenVec as of its most recent filing with the SEC. 26.79% of the stock is currently owned by institutional investors and hedge funds.
GenVec, Inc (GenVec) is a clinical-stage biopharmaceutical company, engaged in the development of therapeutics and vaccines. The Company designs, tests and manufactures adenoviral-based product candidates. The Company’s development programs address therapeutic areas, such as hearing loss and balance disorders, as well as vaccines against infectious diseases, including respiratory syncytial virus (RSV), herpes simplex virus (HSV), Enterovirus D68 (EV-D68) and malaria.
Receive News & Stock Ratings for GenVec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GenVec Inc. and related stocks with our FREE daily email newsletter.