An Early Morning Volume Influx Has GNPX Trading Green And Surging, Key Details Now
GNPX is off to a hot start as an influx of volume has this NASDAQ profile trading in the green.
Already hitting an early high of $3.67, GNPX could look to reach higher based on yesterday's major news (find the full press release below).
On top of that, GNPX still has 12 technical indicators triggered as bullish on Barchart.com along with an overall "100% BUY" recommendation (also based on technicals).
If you haven't yet, get GNPX on your radar and make sure to read my initial report below.
There's no time to waste this morning as your new NASDAQ profile Genprex, Inc. (GNPX) could be breakout bound.
Back on February 11th, I brought GNPX to your attention at approximately $1.61 and watched it run to a February 25th high of $7.03 for an approximate 336% move.
With even more potential catalysts then before, this past champ could be ready to run again.
$8.00 Analyst Target - $5.00 Analyst Target
Now, back to the biggest potential catalyst news of all. Read now:
No. 1 Potential GNPX Catalyst - Addition To Major Index
Genprex Added to Russell 3000® Index
AUSTIN, Texas--(BUSINESS WIRE)--Genprex, Inc. (“Genprex” or the “Company”) (NASDAQ: GNPX), a clinical-stage gene therapy company developing potentially life-changing technologies for patients with cancer and diabetes, today announced that it was added to the Russell 3000® Index after the market closed on Friday, June 26, 2020 as part of the 2020 Russell U.S. Indexes reconstitution.
"Genprex is excited to [be a part] of the Russell 3000 Index, and we look forward to sharing our story and unique approaches for the treatment of lung cancer and diabetes with a wider group of investors,” said Rodney Varner, Chairman and Chief Executive Officer of Genprex. “We believe the Company’s future is bright as we work to secure better outcomes for patients suffering from these serious medical conditions.”
In January 2020, Genprex was awarded U.S. FDA Fast Track designation for use of GPX-001 (quaratusugene ozeplasmid) combined with Tagrisso® (osimertinib) for the treatment of non-small cell lung cancer (NSCLC) patients with EGFR mutations whose tumors progressed after treatment with Tagrisso alone. The Company also signed in early 2020 an exclusive license agreement with the University of Pittsburgh for a preclinical diabetes gene therapy candidate that has the potential to cure Type 1 and Type 2 diabetes. Earlier this year, the Company significantly strengthened its balance sheet through “at the market” capital raises without warrants, plus the exercise by investors of most outstanding Company warrants, aggregating approximately $28Mn in proceeds to the Company. The funds will support the Company’s research and development programs and other corporate uses and initiatives, which could include strategic transactions.
The Russell 3000 Index includes the 3,000 publicly traded companies on the Nasdaq and NYSE exchanges with the largest market capitalizations. FTSE Russell, a leading global index provider, determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes (i.e. growth or value). Each June, the Russell 3000 index is reconstituted to reflect market capitalization changes over the prior year. This closely watched market event impacts more than $9Tn in investor assets benchmarked to or invested in products based on the Russell U.S. indices.
Here's Why This News Could Change Everything
When an emerging growth company like GNPX joins the Russell 3000® Index, this can be a game-changing event that transforms a stock.
GNPX will now have an increased ability to attract institutional buying from hedge funds, banks, mutual funds, and 401 (k)'s.
On top of that major news, GNPX released this huge PR yesterday...
No. 2 Potential GNPX Catalyst - Yesterday's Big News
National Institutes of Health (NIH) Awards Research Grant of $2.59Mn to University of Pittsburgh for Diabetes Gene Therapy Technology Licensed by Genprex
Grant to fund ongoing preclinical research for important proof-of-principle non-human studies in preparation for human gene therapy clinical trials
AUSTIN, Texas--(BUSINESS WIRE)--Genprex, Inc. (“Genprex” or the “Company”) (NASDAQ: GNPX), a clinical-stage gene therapy company developing potentially life-changing technologies for patients with cancer and diabetes, today announced that Dr. George K. Gittes, MD of the University of Pittsburgh, the lead researcher that developed the Company’s potentially curative diabetes gene therapy, was awarded a grant of $2.59Mn from the National Institutes of Health (“NIH”) National Institute of Diabetes and Digestive and Kidney Diseases. The grant will assist Dr. Gittes’s development for his research project titled, “Alpha Cell Conversion to Beta Cells in Non-human Primates” and will build upon his accumulating groundbreaking gene therapy work toward finding a cure for diabetes. In this project, Dr. Gittes’ research team will conduct important proof-of-principle studies in non-human primates as the last steps in preparation for human gene therapy clinical trials. This technology is the subject of an exclusive license agreement entered into between Genprex and the University of Pittsburgh in February of 2020.
We are excited to receive this funding to support our research in diabetic primates as we move toward human clinical trials,” said Dr. George Gittes, Co-Scientific Director and Professor of Surgery at the UPMC (University of Pittsburgh Medical Center) Children’s Hospital of Pittsburgh and the lead researcher behind the diabetes gene therapy. “We saw encouraging data in our preclinical mice studies, where the gene therapy reprogrammed pancreatic cells to restore normal blood glucose levels in diabetic mice for approximately four months, which could translate to decades in humans. More recently, preliminary results in non-human primates (monkeys) has also been very promising.”
Dr. Gittes’ gene therapy for diabetes, which Genprex refers to as “GPX-002,” uses a novel infusion process comprised of an endoscope and an adeno-associated virus (AAV) vector to deliver Pdx1 and MafA genes to the pancreas. The genes express proteins that transform alpha cells in the pancreas into functional beta-like cells, which can produce insulin but are distinct enough from beta cells to evade the body’s immune system.
Diabetes affects approximately 10 percent of the U.S. population, or more than 34Mn people. The diabetes gene therapy could not only become a new treatment option for millions of diabetes patients who need insulin replacement therapy, but it holds the potential to provide long-term effectiveness, or may even be a cure, for diabetic patients.
Dr. Gittes is the inventor of the gene therapy for diabetes, and he is eligible to receive royalties on this technology in the future.
Could This News Be The Fuel To Send GNPX Shares Soaring?
From Monday's close of $3.10, GNPX shot all the way to a high of $3.77 yesterday on that news.
With the press release being around 24 hours old, it still hasn't been seen by everybody.
When people read about this NIH grant awarded to GNPX, it could generate some epic buzz.
Heck! At least you can see how quickly this profile shot $.67!
No. 3 Potential GNPX Catalyst - Analyst $8 Price Target
James Molloy of Alliance Global Partners issued a new price target on April 22nd of 2020.
At the time, the stock was trading at $1.99. He initiated coverage and provided an $8.00 price target.
As of Tuesday's closing valuation, GNPX has already grown to over $3.00+ from that initial initiated coverage of $1.99.
Remember, it was just a few months back that we saw GNPX climb over the $7.00+ level when I brought it to your attention in February.
Could this stock's next big run be right around the corner?
No. 4 Potential GNPX Catalyst - Bullish Technical Indicators
As of Tuesday's close on 7/21, GNPX was displaying major bullish technicals according to barchart.com.
That includes these 12 triggered "BUY" short term, medium term, and long term indicators:
- 20 Day Moving Average
- 50 Day Moving Average
- 100 Day Moving Average
- 150 Day Moving Average
- 200 Day Moving Average
- 20 - 50 Day MACD Oscillator
- 20 - 100 Day MACD Oscillator
- 20 - 200 Day MACD Oscillator
- 50 - 100 Day MACD Oscillator
- 50 - 150 Day MACD Oscillator
- 50 - 200 Day MACD Oscillator
- 100 - 200 Day MACD Oscillator
These technicals could be painting a picture of what's to come. Make sure to keep a close eye on them and other technicals that could be triggered moving forward.
No. 5 Potential GNPX Catalyst - Low Float Share Structure
According to Yahoo Finance, GNPX currently has an approximate 26.78Mn shares in its float.
As we've seen in previous stock profiles, including this one when I brought it to you back in February (approximately 336% surge in roughly two weeks), a low float can lead to explosive price spiking in the short-term from volatility.
Biotech stocks are very sensitive to news. One major development -- such as a positive result from a clinical trial -- and share prices can take off in a hurry.
Could the next big news coming from the GNPX camp be the spark to send share prices flying?
More About The Company: Genprex, Inc.
From the company website:
Genprex is a clinical stage gene therapy company committed to pioneering a new approach to treating cancer. We are developing potentially life-changing gene technologies based upon our novel proprietary technology platform, including our initial product candidate, Oncoprex™ immunogene therapy, or Oncoprex. Our platform technologies are designed to administer cancer fighting genes by encapsulating them into nanoscale hollow spheres called nanovesicles. The nanovesicles are then administered intravenously and are taken up by tumor cells where they express proteins that are missing or found in low quantities.
Our lead product candidate, Oncoprex™, targets non-small cell lung cancer. This initial cancer target represents about 85 percent of all lung cancers and causes more deaths each year than any other type of cancer. Lung cancer is the second most common form of cancer, and the five-year survival rate for late stage lung cancer has not improved substantially in a quarter century. Research indicates that our platform technologies may deliver a number of other cancer fighting genes, alone or in combination with other cancer therapies, to combat additional types of cancer.