GenVec Inc. (GNVC) Cut to “Hold” at Zacks Investment Research
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. “
GNVC has been the topic of several other reports. Rodman & Renshaw reaffirmed a buy rating and issued a $2.30 target price on shares of GenVec in a research report on Monday, June 20th. Roth Capital reiterated a buy rating and set a $2.00 price target (down previously from $8.00) on shares of GenVec in a research note on Tuesday, July 26th.
Shares of GenVec (NASDAQ:GNVC) opened at 0.41 on Monday. The stock has a 50 day moving average price of $0.51 and a 200-day moving average price of $0.63. GenVec has a one year low of $0.35 and a one year high of $3.69. The company’s market capitalization is $9.32 million.
GenVec (NASDAQ:GNVC) last issued its earnings results on Friday, August 5th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. GenVec had a negative return on equity of 83.14% and a negative net margin of 927.05%. Equities research analysts predict that GenVec will post ($0.29) earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in GenVec stock. Sabby Management LLC purchased a new stake in GenVec Inc. (NASDAQ:GNVC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 26.79% of the company’s stock.
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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