Why Genocea Biosciences, Inc. (GNCA) Stock Rose 2.21% in Trade Today?

Genocea Biosciences, Inc. (NASDAQ:GNCA) is a stock to watch today. At current price of $0.74, the shares have already added 0.02 points (2.21% higher) from its previous close of $0.72. The stock sets an active trading volume day with a reported 287180 contracts so far this session. GNCA shares had a relatively better volume day versus average trading capacity of 487.25 thousand shares, but with a 99.87 million float and a 0.56% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for GNCA stock indicates that the average analyst price target is $3.58 per share. This means the stock has a potential increase of 383.78% from where the GNCA share price has been trading recently which is between $0.69 and $0.724. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $2.

The shorts are climbing into Genocea Biosciences, Inc. (GNCA) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in GNCA shares. While short interest still represents only 1.28% of GNCA’s float, the number of shares shorted have risen by 98991. The number of shares shorted advanced to 1373489 shares, up from 1274498 shares during the preceding fortnight. With average daily trading volumes at 297481 shares, days to cover increased to about 2.010328 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Genocea Announces Positive Interim Immunogenicity Data from GEN-009 Neoantigen Vaccine Phase 1/2a Clinical Trial” and dated May 16, 2019.

During the recent trading session for Genocea Biosciences, Inc. (NASDAQ:GNCA), the company witnessed their stock rise $unch over a week and surge $0.05 from the price 20 days ago. When compared to their established 52-week high of $1.02, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/13/18. The recent low of $0.28 stood for a -27.45% since 12/31/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.94 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Genocea Biosciences, Inc., the two-week RSI stands at 56.16. This figure suggests that GNCA stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current GNCA readings is similarly very revealing as it has a stochastic reading of 65.8% at this stage. This figure means that GNCA share price today is being neutral.

Technical chart claims that Genocea Biosciences, Inc. (GNCA) would settle between $0.74/share to $0.75/share level. However, if the stock price goes below the $0.7 mark, then the market for Genocea Biosciences, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.68 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.01. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Needham were stick to their Buy recommendation for the stock in their opinion released on March 01.Needham analysts bumped their rating on Genocea Biosciences, Inc. (NASDAQ:GNCA) stock from Hold to Buy in a separate flash note issued to investors on February 06. Analysts at Needham lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to September 27.

GNCA equity has an average rating of 1.67, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Genocea Biosciences, Inc. (NASDAQ:GNCA) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.