GenVec Inc. (GNVC) Downgraded 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 note issued to investors 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. “
Other equities research analysts have also recently issued research reports about the company. Roth Capital restated 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. 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.
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GenVec (NASDAQ:GNVC) traded down 2.38% during mid-day trading on Monday, hitting $0.41. 42,531 shares of the company’s stock were exchanged. 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. The stock’s 50 day moving average price is $0.53 and its 200-day moving average price is $0.63.
GenVec (NASDAQ:GNVC) last announced its quarterly earnings data on Friday, August 5th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping the Zacks’ 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 analysts expect that GenVec will post ($0.29) EPS for the current fiscal 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. The fund acquired 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. Institutional investors and hedge funds 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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