Genocea Biosciences (NASDAQ:GNCA) PT Lowered to $7.00 at Needham & Company LLC

Genocea Biosciences (NASDAQ:GNCA) had its price objective cut by Needham & Company LLC from $10.00 to $7.00 in a report released on Thursday, BenzingaRatingsTable reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other equities research analysts have also commented on GNCA. SVB Leerink reiterated an outperform rating and issued a $5.00 price target on shares of Genocea Biosciences in a research report on Sunday, July 5th. HC Wainwright reduced their price target on Genocea Biosciences from $32.00 to $9.00 and set a buy rating on the stock in a research report on Thursday, July 23rd. ValuEngine downgraded Genocea Biosciences from a buy rating to a hold rating in a research note on Tuesday, July 28th. Finally, Zacks Investment Research raised Genocea Biosciences from a sell rating to a hold rating in a research note on Wednesday, July 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Genocea Biosciences currently has an average rating of Buy and a consensus target price of $5.81.

GNCA stock traded down $0.60 during midday trading on Thursday, reaching $2.85. 4,101,805 shares of the stock were exchanged, compared to its average volume of 2,107,795. The company has a fifty day moving average price of $2.59 and a 200 day moving average price of $2.26. Genocea Biosciences has a 52 week low of $1.10 and a 52 week high of $5.75. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.29.

Genocea Biosciences (NASDAQ:GNCA) last released its quarterly earnings results on Thursday, July 23rd. The biotechnology company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The company had revenue of $0.91 million during the quarter. As a group, sell-side analysts predict that Genocea Biosciences will post -1.32 EPS for the current fiscal year.

In other Genocea Biosciences news, major shareholder Paul Edward Walker acquired 3,151,260 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were bought at an average cost of $2.25 per share, with a total value of $7,090,335.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.08% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new position in Genocea Biosciences during the 1st quarter worth approximately $35,000. Wedbush Securities Inc. acquired a new position in Genocea Biosciences during the 2nd quarter worth approximately $105,000. WINTON GROUP Ltd acquired a new position in Genocea Biosciences during the 1st quarter worth approximately $30,000. FNY Investment Advisers LLC raised its stake in Genocea Biosciences by 9.1% during the 1st quarter. FNY Investment Advisers LLC now owns 300,000 shares of the biotechnology company’s stock worth $516,000 after buying an additional 25,000 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Genocea Biosciences by 37.4% during the 4th quarter. Renaissance Technologies LLC now owns 279,511 shares of the biotechnology company’s stock worth $579,000 after buying an additional 76,149 shares during the period. 50.20% of the stock is currently owned by institutional investors and hedge funds.

About Genocea Biosciences

Genocea Biosciences, Inc, a biopharmaceutical company, discovers and develops novel cancer vaccines. The company uses its proprietary discovery platform, ATLAS, to recall a patient's pre-existing CD4+ and CD8+ T cell immune responses to tumor to identify antigens for inclusion in vaccines that are designed to act through T cell (or cellular) immune responses.

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