GenVec Inc. (GNVC) Lowered to Hold at Zacks Investment Research
GenVec Inc. (NASDAQ:GNVC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
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. “
A number of other research firms have also recently commented on GNVC. Roth Capital reissued a “buy” rating and set a $2.00 target price (down previously from $8.00) on shares of GenVec in a research report on Tuesday, July 26th. Rodman & Renshaw restated a “buy” rating and set a $2.30 price target on shares of GenVec in a research note on Monday, June 20th.
Shares of GenVec (NASDAQ:GNVC) traded down 2.38% on Monday, hitting $0.41. The stock had a trading volume of 42,531 shares. The company has a 50 day moving average price of $0.53 and a 200-day moving average price of $0.63. GenVec has a 12 month low of $0.35 and a 12 month high of $3.69. The stock’s market cap is $9.32 million.
GenVec (NASDAQ:GNVC) last posted its earnings results on Friday, August 5th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.04. GenVec had a negative net margin of 927.05% and a negative return on equity of 83.14%. On average, equities research analysts anticipate that GenVec will post ($0.29) earnings per share for the current year.
A hedge fund recently bought a new stake in GenVec stock. Sabby Management LLC purchased a new stake in shares of GenVec Inc. (NASDAQ:GNVC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,625,435 shares of the biopharmaceutical company’s stock, valued at approximately $931,000. Sabby Management LLC owned about 7.15% of GenVec as of its most recent filing with the SEC. 26.79% of the stock is currently owned by hedge funds and other institutional investors.
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.
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