Drop Everything To Check Out Low Float NASDAQ Biotech (GNPX) And Its $8.00 Analyst Price Target
Backed By Several Potential Catalysts, This Past Champ Could See Its Shares Rocket Vertically Once Again...
Let's dive in...
Back on February 11th, I brought this NASDAQ idea to your attention at approximately $1.61 and watched it run to a February 25th high of $7.03 for an approximate 336% move.
Now, with multiple could-be catalysts, including an analyst $8.00 price target giving this stock over 175% potential upside from yesterday's closing valuation, this profile could surge one again.
This morning, I want you to focus in on past champ:
*Genprex, Inc. (GNPX)*
Here is what you need to know...
Genprex, Inc is a U.S.-based clinical-stage gene therapy company. It is engaged in developing a new approach to treating cancer based on its novel proprietary technology platform, including initial product candidate, Oncoprex immunogene therapy.
Now, we're into June and GNPX could be aimed for another major breakout. Here's why:
#1 Potential GNPX Catalyst - Last Week's Big Announcement
Genprex Announces Receipt of $2.5Mn in Cash from Recent Warrant Exercises
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, announced today that warrants to purchase approximately 5.4 million shares of common stock issued in connection with capital raises in May 2018 and November 2019 with two institutional investors have been exercised at a price of $0.46 per share, resulting in cash proceeds of approximately $2.5Mn to the Company. The warrants were exercised on or about May 22, 2020, the first day they became exercisable under the terms of their respective agreements.
The exercised warrants include all warrants that have been issued to investors in the Company’s public financings to date and represent approximately 70% of the Company’s overall outstanding warrants. Warrants remaining after the exercise carry a weighted average exercise price of approximately $3.93. Genprex believes that the elimination of the majority of its outstanding warrants is a significant milestone for the Company in that it provides a dramatically simplified capital structure.
In 2020, Genprex has raised gross proceeds of $25.5Mn in two registered direct offerings, both priced at the market, with no warrants issued. The additional capital from these recent warrant excercises brings the equity capital raised during 2020 for advancing the Company’s research and development programs and other corporate initiatives, which could include strategic transactions, to roughly $28Mn.
With the Company’s significantly strengthened balance sheet (the warrant exercise proceeds added to the more than $23Mn in cash on the Company’s balance sheet as of March 31, 2020), Genprex believes it is in a strong position to pursue its planned clinical trial of its lead gene therapy drug candidate, Oncoprex™ immunogene therapy, combined with targeted therapy Tagrisso® (marketed by AstraZeneca) in non-small cell lung cancer (NSCLC) patients whose tumors progressed on Tagrisso, for which the Company was granted United States FDA Fast Track Designation in January 2020; and a planned clinical trial of Oncoprex combined with Keytruda® (marketed by Merck) for late stage NSCLC.
#2 Potential GNPX Catalyst - New 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 Wednesday's closing valuation, GNPX had already made a vertical move of over $.80 from that initial initiated coverage of $1.99.
Remember, it was only recently in 2020 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 already be happening?
#3 Potential GNPX Catalyst - Last Month's Press Release
Genprex Issues April 2020 Shareholder Letter
- Company provides updates on recent regulatory, clinical, operational, and business developments
- Fast Track Designation by FDA for Oncoprex™ in combination with osimertinib in non-small cell lung cancer emphasized
- Exclusive license agreement with University of Pittsburgh for diabetes gene therapy candidate highlighted
May 04, 2020 08:17 AM Eastern Daylight Time
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, announced that it has issued an April 2020 Shareholder Letter. The letter highlights the Company’s progress with Oncoprex™, its lead drug candidate with an initial targeted indication for non-small cell lung cancer (NSCLC), its license agreement for a diabetes gene therapy drug candidate, and other operational and business achievements.
Recent Company Highlights Include:
- Receiving Fast Track Designation from the Food and Drug Administration (FDA) for Oncoprex™ in combination with osimertinib (AstraZeneca’s Tagrisso®) for the treatment of patients with NSCLC
- Signing an exclusive license agreement with the University of Pittsburgh for a preclinical diabetes gene therapy candidate that may have the potential to cure Type 1 and Type 2 diabetes
- Obtaining encouraging preclinical data from research collaborators and independent third parties with the TUSC2 gene, the active agent in Oncoprex, in lung cancer and triple-negative breast cancer
- Raising more than $26Mn in gross proceeds from institutional investors in three separate equity offerings
Get the full shareholder letter here.
#4 Potential GNPX Catalyst - Low Float Share Structure
According to Yahoo Finance, GNPX currently has an approximate 9.39Mn 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?
#5 Potential GNPX Catalyst - Bullish Technical Indicators
As of writing on Wednesday, 6/3, GNPX was displaying major bullish technicals according to barchart.com.
That includes these 10 triggered "BUY" short term, medium term, and long term indicators:
- 50 Day Moving Average
- 100 Day Moving Average
- 150 Day Moving Average
- 200 Day Moving Average
- 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.