Canaccord Genuity Begins Coverage on VBI Vaccines, Inc. (VBIV)
Canaccord Genuity began coverage on shares of VBI Vaccines, Inc. (NASDAQ:VBIV) in a research report released on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $10.00 price objective on the biopharmaceutical company’s stock.
Other analysts have also recently issued research reports about the stock. Noble Financial reaffirmed a buy rating on shares of VBI Vaccines in a report on Monday, July 31st. Zacks Investment Research cut shares of VBI Vaccines from a buy rating to a hold rating in a report on Saturday, July 15th. Finally, ValuEngine raised shares of VBI Vaccines from a sell rating to a hold rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $10.00.
Shares of VBI Vaccines (NASDAQ VBIV) traded up $0.48 during midday trading on Wednesday, hitting $4.20. The stock had a trading volume of 427,640 shares, compared to its average volume of 212,634. VBI Vaccines has a fifty-two week low of $2.78 and a fifty-two week high of $6.60. The company has a current ratio of 2.00, a quick ratio of 1.91 and a debt-to-equity ratio of 0.18.
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In other news, CEO Jeff Baxter bought 10,000 shares of VBI Vaccines stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average price of $3.28 per share, with a total value of $32,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 110,255 shares in the company, valued at $361,636.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven Gillis bought 300,000 shares of VBI Vaccines stock in a transaction that occurred on Monday, October 30th. The stock was purchased at an average cost of $3.05 per share, for a total transaction of $915,000.00. Following the acquisition, the director now owns 46,916 shares of the company’s stock, valued at $143,093.80. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 4,078,738 shares of company stock worth $12,444,511. 54.50% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. KCG Holdings Inc. acquired a new stake in VBI Vaccines in the first quarter valued at approximately $512,000. California State Teachers Retirement System acquired a new stake in VBI Vaccines during the second quarter worth approximately $167,000. State Street Corp acquired a new stake in VBI Vaccines during the second quarter worth approximately $831,000. Northern Trust Corp acquired a new stake in VBI Vaccines during the second quarter worth approximately $883,000. Finally, TIAA CREF Investment Management LLC acquired a new stake in VBI Vaccines during the second quarter worth approximately $262,000. 31.50% of the stock is currently owned by hedge funds and other institutional investors.
About VBI Vaccines
VBI Vaccines Inc, formerly SciVac Therapeutics Inc, is a biotechnology company. The Company is engaged in developing various technologies that focus on vaccine protection. It has developed an enveloped virus like particle (eVLP) vaccine platform that allows for the design of enveloped VLP vaccines. It is involved in various projects related to human cytomegalovirus (CMV) and other antigens.
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