Genocea Biosciences, Inc. (NASDAQ:GNCA) Downgraded to “Sell” at Zacks Investment Research
Genocea Biosciences, Inc. (NASDAQ:GNCA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Genocea Biosciences, Inc. is involved in developing vaccines. The company’s proprietary discovery platform consists of AnTigen Lead Acquisition System which designs vaccines that stimulate T cell immunity. Its product portfolio which are in different clinical trials consist of GEN-003, HSV-2 infections, GEN-004 and HSV-2 prophylaxis and malaria. Genocea Biosciences, Inc. is headquartered in Cambridge, Massachusetts. “
A number of other research firms have also recently issued reports on GNCA. Needham & Company LLC upgraded Genocea Biosciences from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Monday, July 24th. Cowen and Company reiterated an “outperform” rating and set a $40.00 target price on shares of Genocea Biosciences in a report on Tuesday, July 25th. ValuEngine cut Genocea Biosciences from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $18.00 target price (up previously from $17.00) on shares of Genocea Biosciences in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $16.52.
Shares of Genocea Biosciences (GNCA) traded up 4.34% on Friday, reaching $3.97. The company’s stock had a trading volume of 346,395 shares. Genocea Biosciences has a 52-week low of $3.28 and a 52-week high of $7.29. The company has a 50 day moving average price of $5.20 and a 200 day moving average price of $5.50. The company’s market cap is $113.31 million.
Genocea Biosciences (NASDAQ:GNCA) last released its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.54) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.46) by $0.08. On average, analysts anticipate that Genocea Biosciences will post ($1.95) earnings per share for the current fiscal year.
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In other Genocea Biosciences news, CFO Jonathan Poole sold 45,000 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $6.00, for a total transaction of $270,000.00. Following the completion of the transaction, the chief financial officer now owns 84,247 shares in the company, valued at approximately $505,482. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.70% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new position in shares of Genocea Biosciences during the first quarter valued at $217,000. Keybank National Association OH bought a new position in shares of Genocea Biosciences during the first quarter valued at $147,000. Segantii Capital Management Ltd bought a new position in shares of Genocea Biosciences during the first quarter valued at $160,000. Ameriprise Financial Inc. boosted its position in shares of Genocea Biosciences by 34.1% in the first quarter. Ameriprise Financial Inc. now owns 19,933 shares of the biotechnology company’s stock valued at $121,000 after buying an additional 5,068 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Genocea Biosciences by 0.4% in the first quarter. FMR LLC now owns 4,274,804 shares of the biotechnology company’s stock valued at $26,033,000 after buying an additional 18,574 shares during the last quarter. Institutional investors own 54.24% of the company’s stock.
About Genocea Biosciences
Genocea Biosciences, Inc, is harnessing the power of T cell immunity to develop vaccines and immunotherapies company. The Company uses its discovery platform, AnTigen Lead Acquisition System (ATLAS), to design vaccines and immunotherapies that act, in part, through T cell (or cellular) immune responses.
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