As you can see, GNPX has been in a recent downtrend since mid October. Here's why that could all change soon.
No. 1 Potential GNPX Driver Indicator
Right now, according to Barchart, GNPX is displaying several oversold leaning technical indicators. Here's a sample:
- 9-Day Relative Strength Index = 30.24%
- 14-Day Relative Strength Index = 36.02%
When those two figures hit the low 30% range and delve into the upper 20% range, traders can view a profile as oversold, leading them to believe it is undervalued.
- 14-Day Raw Stochastic = 20.66%
- 14-Day Williams %R = 79.34%
When the Raw Stochastic nears single digits and the Williams %R nears the 90% level, traders can also view a profile as oversold and undervalued.
On top of all those oversold leaning technicals, Barchart is also reporting several technicals to be triggered as bullish. They are GNPX's:
Short Term Indicators
- 20 - 100 Day MACD Oscillator
- 20 - 200 Day MACD Oscillator
Medium Term Indicators
- 50 - 100 Day MACD Oscillator
- 50 - 150 Day MACD Oscillator
- 50 - 200 Day MACD Oscillator
Long Term Indicators
- 200 Day Moving Average
- 100 - 200 Day MACD Oscillator
It's an interesting mix of technicals, both bullish and oversold. Keep an eye on these closely as they may signal GNPX's next breakout if more become triggered.
No. 2 Potential GNPX Driver Indicator
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 of $3.09, GNPX is now displaying upside potential of 158% to that target.
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?
Additionally, another analyst, Cosme Ordonez from Noble Financial has also pegged GNPX with a $5.00 target.
From Wednesday's close of $3.09, that provides GNPX with upside potential of 61%.
Now, I'm not saying that GNPX is going to be running to either of those targets today, but you need to be aware of the potential upside for this profile.
No. 3 Potential GNPX Driver Indicator
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.
No. 4 Potential GNPX Driver Indicator
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.
No. 5 Potential GNPX Driver Indicator
According to Yahoo Finance, GNPX currently has an approximate 31.73Mn 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) and July (approximately 30% in 2 days), a low float can lead to explosive vertical surges in the short-term from volatility.
Biotech stocks can be 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 vertical?
More About The Company: Genprex, Inc.
From the company website:
Our mission is to develop life-changing gene therapies for patients with cancer and diabetes through unique, innovative science.
Genprex is a clinical-stage gene therapy company developing potentially life-changing technologies for patients with cancer and diabetes. Genprex’s technologies are designed to administer disease-fighting genes to provide new treatment options for large patient populations with cancer and diabetes who currently have limited treatment options. Genprex works with world-class institutions and collaborators to in-license and develop drug candidates to further its pipeline of gene therapies in order to provide novel treatment approaches for patients with cancer and other serious diseases.
The company’s lead product candidate is GPX-001 (quaratusugene ozeplasmid) for non-small cell lung cancer (NSCLC). The active ingredient in GPX-001 is the TUSC2 gene, a tumor suppressor gene. GPX-001 uses the company’s unique, proprietary Oncoprex™ nanoparticle delivery platform which delivers cancer-fighting genes by encapsulating them into nanoscale hollow spheres called nanoparticles, which are then administered intravenously and taken up by tumor cells where they express proteins that are missing or found in low quantities. In January 2020, the FDA granted Fast Track Designation for GPX-001 in combination with AstraZeneca’s Tagrisso® for the treatment of NSCLC. GPX-002, a gene therapy for diabetes, is the most recent addition of our licensed technologies.