Zacks Investment Research downgraded shares of GenVec Inc. (NASDAQ:GNVC) from a buy rating to a hold rating in a research report released on Monday morning.
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. “
A number of other equities analysts have also recently issued reports on the stock. Rodman & Renshaw reissued a buy rating and set a $2.30 price objective on shares of GenVec in a research report on Monday, June 20th. Roth Capital restated a buy rating and issued a $2.00 target price (down previously from $8.00) on shares of GenVec in a report on Tuesday, July 26th.
Shares of GenVec (NASDAQ:GNVC) opened at 0.3735 on Monday. The company’s market cap is $8.49 million. GenVec has a one year low of $0.35 and a one year high of $3.69. The stock’s 50 day moving average price is $0.50 and its 200-day moving average price is $0.63.
GenVec (NASDAQ:GNVC) last released its quarterly earnings data on Friday, August 5th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.04. GenVec had a negative net margin of 927.05% and a negative return on equity of 83.14%. On average, analysts expect that GenVec will post ($0.29) EPS for the current year.
An institutional investor recently bought a new position in GenVec stock. Sabby Management LLC bought a new position in GenVec Inc. (NASDAQ:GNVC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,625,435 shares of the biopharmaceutical company’s stock, valued at approximately $931,000. Sabby Management LLC owned about 7.15% of GenVec as of its most recent filing with the SEC. Institutional investors own 26.79% of the company’s stock.
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.