Genocea Biosciences, Inc. (GNCA) Upgraded to “Buy” by Zacks Investment Research
Genocea Biosciences, Inc. (NASDAQ:GNCA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage presently has a $1.75 price target on the biotechnology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 9.37% from the stock’s previous close.
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 analysts have also issued reports on the company. ValuEngine lowered Genocea Biosciences from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 26th. Needham & Company LLC lowered Genocea Biosciences from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Cowen and Company reaffirmed a “buy” rating and set a $10.00 target price on shares of Genocea Biosciences in a report on Tuesday, September 26th. Stifel Nicolaus lowered Genocea Biosciences from a “buy” rating to a “hold” rating and lowered their target price for the stock from $15.00 to $2.50 in a report on Monday, September 25th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $18.00 target price (up from $17.00) on shares of Genocea Biosciences in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $9.48.
Genocea Biosciences (GNCA) traded down 0.62% during trading on Monday, hitting $1.60. 659,449 shares of the stock were exchanged. Genocea Biosciences has a one year low of $1.13 and a one year high of $7.29. The stock’s 50 day moving average is $3.66 and its 200-day moving average is $5.12. The company’s market cap is $45.80 million.
Genocea Biosciences (NASDAQ:GNCA) last issued its quarterly earnings data on Wednesday, August 9th. The biotechnology company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). On average, equities research analysts expect that Genocea Biosciences will post ($1.92) earnings per share for the current fiscal year.
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In related news, CFO Jonathan Poole sold 45,000 shares of Genocea Biosciences 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 transaction, the chief financial officer now directly owns 84,247 shares of the company’s stock, valued at $505,482. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 6.70% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of GNCA. Ameriprise Financial Inc. increased its stake in Genocea Biosciences by 34.1% in the 1st quarter. Ameriprise Financial Inc. now owns 19,933 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 5,068 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Genocea Biosciences in the 1st quarter worth about $217,000. FMR LLC increased its stake in Genocea Biosciences by 0.4% in the 1st quarter. FMR LLC now owns 4,274,804 shares of the biotechnology company’s stock worth $26,033,000 after purchasing an additional 18,574 shares in the last quarter. Geode Capital Management LLC increased its stake in Genocea Biosciences by 4.7% in the 1st quarter. Geode Capital Management LLC now owns 148,370 shares of the biotechnology company’s stock worth $903,000 after purchasing an additional 6,708 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new position in Genocea Biosciences in the 2nd quarter worth about $257,000. 59.25% of the stock is currently owned by hedge funds and other institutional investors.
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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