Yesterday's Huge Company Update Provides 2X Past Champ (GNPX) With Staggering Breakout Potential
Plus, A New $8.00 Analyst Price Target And Several Other Catalysts Could Send Shares Vertical Once Again...
Here's the skinny...
On January 21st of 2020, I brought this stock to your attention early that morning only to watch it make a 2 day run from an open of approximately $1.20 to a high of $2.00 for a surge of approximately 66.67%.
I then brought it back to your attention in February 11th at approximately $1.61 and watched it run to a February 25th high of $7.03 for an approximate 336% move.
2X Past champ *Genprex, Inc. (GNPX)* could now be on the verge of breaking out again. 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 May and GNPX could be aimed for another major breakout. Here's why:
#1 Potential GNPX Catalyst - Monday's Major 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.
#2 Potential GNPX Catalyst - New Analyst $8 Price Target
James Molloy of Alliance Global Partners issued a brand 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 Monday's closing valuation, GNPX had already made a vertical move of over $.30 from that initial initiated coverage of $1.99.
Remember, it was only recently 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 - Genprex’s Response to CV-19 and its Business Operations
From the Genprex website:
At Genprex, the health and well-being of the communities we serve, including those with cancer and diabetes, is our top priority.
While our country and world navigate through the short and long-term impact of CV-19, Genprex continues to monitor the latest news about the virus as well as the guidance issued by federal, state and local officials.
During this period of economic and global uncertainty, we remain steadfast in our mission to develop potentially life-changing gene technologies for patients with cancer and diabetes. Our unwavering commitment to our mission continues to be our guiding responsibility, now more than ever.
Our small but nimble team is able work virtually or remotely, meaning that we haven’t lost pace or slowed our workload. In fact, much of our team has worked virtually since the company was founded. Furthermore, in the past month we have strengthened and expanded our leadership team with the appointment of three accomplished executives, and we have bolstered our Board of Directors with three biotechnology and pharmaceutical leaders.
With the on-boarding of new executives and Board of Director members, combined with our significantly strengthened balance sheet, our business operations are continuing as normal. We remain completely committed to executing on our plans and strategy we have set forth for 2020 and into next year.
This pandemic has highlighted the need for modern medicine to save lives. We are working to bring our potentially life-changing gene technologies to those with cancer and diabetes, because we truly believe our therapies can address these medical needs and save lives. We thank you for your continued support in Genprex, and we hope that you and your loved ones remain safe during this pandemic.
Look here for recent top-of-the-line executives and board member hires.
#4 Potential GNPX Catalyst - Low Float Share Structure
According to Yahoo Finance, GNPX currently has an approximate 19.47Mn 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 Monday, 5/4, GNPX was displaying major bullish technicals according to barchart.com.
That includes these 10 triggered "BUY" short term, medium term, and long term indicators:
- 20 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.