Today’s Stock On Watch: Is Selling Galena Biopharma Inc Here a Winning Strategy?

Today's Stock On Watch: Is Selling Galena Biopharma Inc Here a Winning Strategy?

The stock of Galena Biopharma Inc (NASDAQ:GALE) hit a new 52-week low and has $2.93 target or 9.00% below today’s $3.22 share price. The 8 months bearish chart indicates high risk for the $559.04 million company. The 1-year low was reported on Nov, 18 by Barchart.com. If the $2.93 price target is reached, the company will be worth $50.31 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 93,587 shares traded hands. Galena Biopharma Inc (NASDAQ:GALE) has declined 88.80% since April 18, 2016 and is downtrending. It has underperformed by 93.23% the S&P500.

Galena Biopharma Inc (NASDAQ:GALE) Ratings Coverage

Out of 7 analysts covering Galena Biopharma (NASDAQ:GALE), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $6 is the highest target while $2 is the lowest. The $4 average target is 24.22% above today’s ($3.22) stock price. Galena Biopharma has been the topic of 12 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Friday, July 22 by FBR Capital. MLV maintained the stock with “Buy” rating in Friday, August 7 report. The company was maintained on Tuesday, December 22 by Maxim Group. The firm has “Sell” rating by Cantor Fitzgerald given on Friday, August 7. On Thursday, November 12 the stock rating was upgraded by Oppenheimer to “Outperform”. Zacks downgraded the shares of GALE in a report on Wednesday, August 12 to “Buy” rating. The firm has “Buy” rating by Roth Capital given on Tuesday, November 10. Raymond James downgraded the stock to “Market Perform” rating in Wednesday, June 29 report. The stock has “Hold” rating given by Cantor Fitzgerald on Tuesday, December 8. The rating was maintained by Roth Capital with “Buy” on Friday, March 11.

According to Zacks Investment Research, “Galena Biopharma, Inc. is a biopharmaceutical company that develops innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care. Galena Biopharma, Inc., formally known as RXi Pharmaceuticals Corporation, is based in Portland, Oregon.”

Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 1.04, from 2.04 in 2016Q1. The ratio is negative, as 7 funds sold all Galena Biopharma Inc shares owned while 16 reduced positions. 21 funds bought stakes while 26 increased positions. They now own 30.72 million shares or 9.48% more from 28.06 million shares in 2016Q1.
Goldman Sachs Gp Incorporated owns 233,252 shares or 0% of their US portfolio. Fisher Asset Mgmt Ltd Liability, a Washington-based fund reported 11,329 shares. Amalgamated Bank & Trust holds 0% or 19,348 shares in its portfolio. One Trading L P reported 966,068 shares or 0.01% of all its holdings. Integral Derivatives Limited Liability Company holds 19,101 shares or 0% of its portfolio. Credit Suisse Ag accumulated 0% or 137,676 shares. Pnc Service Group Inc holds 900 shares or 0% of its portfolio. Proshare holds 0% of its portfolio in Galena Biopharma Inc (NASDAQ:GALE) for 22,430 shares. Equitec Specialists Limited Liability Company has 100 shares for 0% of their US portfolio. Moreover, State Street Corp has 0% invested in Galena Biopharma Inc (NASDAQ:GALE) for 2.75 million shares. Moreover, Tiaa Cref Inv Mngmt Limited Company has 0% invested in Galena Biopharma Inc (NASDAQ:GALE) for 650,350 shares. Raymond James & Assocs has 0% invested in the company for 10,500 shares. The California-based Wells Fargo And Communication Mn has invested 0% in Galena Biopharma Inc (NASDAQ:GALE). Oppenheimer Inc, a New York-based fund reported 77,600 shares. National Bank Of America De last reported 20,356 shares in the company.

Insider Transactions: Since June 1, 2016, the stock had 0 insider buys, and 1 sale for $276,588 net activity. Dunlap Ryan sold $276,588 worth of stock.

GALE Company Profile

Galena Biopharma, Inc., incorporated on April 3, 2006, is a biopharmaceutical company. The Firm focuses on developing and commercializing targeted oncology therapeutics that address unmet medical needs. The Company’s development portfolio ranges from mid- to late-stage clinical assets, including cancer immunotherapy program led by NeuVax (nelipepimut-S), GALE-301 and GALE-302. The Company’s NeuVax is in Phase III breast cancer clinical trial with several concurrent Phase II trials ongoing both as a single agent and in combination with other therapies. GALE-301 is in a Phase IIa clinical trial in ovarian and endometrial cancers and in a Phase Ib clinical trial given sequentially with GALE-302. The Company’s therapies utilize an immunodominant peptide combined with the immune adjuvant, recombinant human granulocyte macrophage-colony stimulating factor (rhGM-CSF, Leukine), and work by harnessing the patient’s own immune system to seek out and attack any residual cancer cells.

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