Vical (NASDAQ:VICL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.
According to Zacks, “Vical researches and develops biopharmaceutical products based on its patented DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases. Potential applications of the company’s DNA delivery technology include DNA vaccines for infectious diseases or cancer, in which the expressed protein is an immunogen; cancer immunotherapeutics, in which the expressed protein is an immune system stimulant; and cardiovascular therapies, in which the expressed protein is an angiogenic growth factor. The company is developing certain infectious disease vaccines and cancer therapeutics internally. In addition, the company collaborates with major pharmaceutical companies and biotechnology companies that give it access to complementary technologies or greater resources. These strategic partnerships provide the company with mutually beneficial opportunities to expand its product pipeline and address significant unmet medical needs. “
Separately, HC Wainwright set a $4.00 price objective on Vical and gave the stock a “buy” rating in a research note on Tuesday, October 30th.
Shares of VICL traded down $0.02 during midday trading on Friday, reaching $0.98. 202,464 shares of the company were exchanged, compared to its average volume of 453,045. The stock has a market cap of $21.81 million, a PE ratio of -0.97 and a beta of 0.59. Vical has a 1-year low of $0.85 and a 1-year high of $1.82.
In other Vical news, major shareholder Armistice Capital Master Fund sold 2,190,500 shares of the business’s stock in a transaction dated Thursday, January 10th. The stock was sold at an average price of $0.88, for a total transaction of $1,927,640.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.58% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Sio Capital Management LLC purchased a new stake in shares of Vical during the third quarter worth approximately $1,699,000. Renaissance Technologies LLC boosted its stake in Vical by 10.1% during the third quarter. Renaissance Technologies LLC now owns 966,549 shares of the biotechnology company’s stock worth $1,324,000 after buying an additional 88,820 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Vical by 47.5% during the third quarter. JPMorgan Chase & Co. now owns 138,960 shares of the biotechnology company’s stock worth $190,000 after buying an additional 44,723 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Vical by 20.0% during the second quarter. BlackRock Inc. now owns 394,320 shares of the biotechnology company’s stock worth $453,000 after buying an additional 65,732 shares during the last quarter. Institutional investors own 47.13% of the company’s stock.
Vical Company Profile
Vical Incorporated engages in the research and development of biopharmaceutical products based on its DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases. The company is developing VCL-HB01, an HSV-2 therapeutic vaccine that is in Phase II clinical trial to prevent and protect against lesion recurrence, as well as for the treatment of patients with symptomatic genital herpes infection; VL-2397 antifungal program, which is in Phase II clinical trial for the treatment of invasive fungal infections; and chronic hepatitis B that is in preclinical stage for the eradication of persistent HBV infection.
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