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.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at

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.

About GenVec

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.

5 Day Chart for NASDAQ:GNVC

Get a free copy of the Zacks research report on GenVec (GNVC)

For more information about research offerings from Zacks Investment Research, visit

Receive News & Ratings for GenVec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GenVec Inc. and related companies with's FREE daily email newsletter.