GenVec Inc. (NASDAQ:GNVC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a 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. “
GNVC has been the topic of a number of other reports. Rodman & Renshaw reiterated a “buy” rating and set a $2.30 price objective on shares of GenVec in a research note on Monday, June 20th. Roth Capital reiterated a “buy” rating and set a $2.00 price objective (down from $8.00) on shares of GenVec in a research note on Tuesday, July 26th.
Shares of GenVec (NASDAQ:GNVC) opened at 0.4299 on Monday. The stock has a 50 day moving average of $0.52 and a 200 day moving average of $0.63. GenVec has a one year low of $0.35 and a one year high of $3.69. The stock’s market cap is $9.77 million.
GenVec (NASDAQ:GNVC) last posted its quarterly earnings data on Friday, August 5th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating 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%. 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 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 7.15% of GenVec at the end of the most recent reporting period. Institutional investors 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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