Zacks Investment Research upgraded shares of GenVec Inc. (NASDAQ:GNVC) from a hold rating to a buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $0.50 target price 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 research analysts have also issued reports about the stock. Roth Capital reiterated a buy rating and issued a $2.00 target price (down from $8.00) on shares of GenVec in a research report on Tuesday, July 26th. Rodman & Renshaw reiterated a buy rating and issued a $2.30 target price on shares of GenVec in a research report on Monday, June 20th.

GenVec (NASDAQ:GNVC) opened at 0.41 on Wednesday. The stock has a 50 day moving average price of $0.53 and a 200 day moving average price of $0.63. The company’s market capitalization is $9.32 million. GenVec has a 52-week low of $0.35 and a 52-week high of $3.69.

GenVec (NASDAQ:GNVC) last announced its earnings results on Friday, August 5th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping the 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%. Equities research analysts forecast that GenVec will post ($0.29) earnings per share for the current year.

An institutional investor recently bought a new position 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 filing with the Securities and Exchange Commission (SEC). The fund purchased 1,625,435 shares of the biopharmaceutical company’s stock, valued at approximately $931,000. Sabby Management LLC owned 7.15% of GenVec as of its most recent filing with the SEC. 26.79% of the stock is owned by hedge funds and other institutional investors.

GenVec Company Profile

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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