Biopharmaceutical company Genocea Biosciences Inc (NASDAQ:GNCA) has seen its stock decline sharply in recent days and the situation remained the same yesterday as it declined by another 18% amidst a heavy selloff. The decline in the Genocea over the past week stretched to a staggering 65% following yesterday’s fall.
Trading Data
On Tuesday, GNCA stock went down 18.33% to $0.49 with more than 5.17 million shares, compared to its average volume of 1.46 million shares. The stock moved within a range of $0.4606 – 0.5700 after opening trade at $0.57.
Genocea Presents Encouraging Initial Data from GEN-011 Phase 1/2a Trial at AACR 2022
There was no fresh news about the company yesterday but last Friday the company was actually in the news. Genocea announced at the time that it was going to make a presentation of manufacturing and preclinical data at the American Association for Cancer Research (AACR) Annual Meeting 2022. The event had taken place on April 8 at New Orleans but virtual participation was also an option.
The company provided key data with regards to its products but it has now become clear that the presentation may not have gone down well with actual investors. That was possibly the reason behind the sharp fall in the stock over the course of the past few days. At this point in time, it could be a good move from investors to perhaps consider keeping an eye on the latest news with regards to Genocea and watch for a recovery.
Key Quote
“Using peripherally derived T cells and our ATLAS bioassay to target specific neoantigens for inclusion or Inhibigen exclusion in GEN-011 is yielding promising early results in patients,” said Thomas Davis, MD, Chief Medical Officer of Genocea.
Technical Data
GNCA stock is below the 20-Day and 50-Day Moving averages of $1.06 and $1.10 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.51.
