GenVec Inc. (NASDAQ:GNVC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $0.50 price objective on the biopharmaceutical company’s stock. Zacks Investment Research’s price objective would suggest a potential upside of 47.06% from the stock’s previous close.
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. “
Separately, Roth Capital restated a “buy” rating and set a $2.00 target price (down previously from $8.00) on shares of GenVec in a research report on Tuesday, July 26th.
Shares of GenVec (NASDAQ:GNVC) traded up 3.03% during midday trading on Tuesday, reaching $0.34. The company’s stock had a trading volume of 22,407 shares. The company’s market cap is $7.73 million. GenVec has a 12 month low of $0.27 and a 12 month high of $3.69. The stock has a 50-day moving average of $0.36 and a 200 day moving average of $0.54. Shares of GenVec are set to reverse split on Thursday, December 1st. The 1-10 reverse split was announced on Wednesday, November 16th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 30th.
An institutional investor recently bought a new position in GenVec stock. Sabby Management LLC acquired a new position in shares of GenVec Inc. (NASDAQ:GNVC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 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. 26.79% of the stock is owned by institutional investors and hedge funds.
GenVec Company Profile
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.