Notable Price Action: Galena Biopharma Inc Just Reaches All-Time Low?

Notable Price Action: Galena Biopharma Inc Just Reaches All Time Low?

The stock of Galena Biopharma Inc (NASDAQ:GALE) reached all time low today, Nov, 18 and still has $2.95 target or 8.00% below today’s $3.21 share price. This indicates more downside for the $557.30M company. This technical setup was reported by Barchart.com. If the $2.95 PT is reached, the company will be worth $44.58 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 124,587 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. Galena Biopharma has been the topic of 12 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The rating was maintained by FBR Capital on Friday, July 22 with “Outperform”. The firm has “Sell” rating by Cantor Fitzgerald given on Friday, August 7. As per Tuesday, November 10, the company rating was maintained by TH Capital. Raymond James initiated it with “Outperform” rating and $3 target price in Wednesday, September 9 report. The rating was maintained by MLV on Friday, August 7 with “Buy”. The firm has “Buy” rating by Roth Capital given on Friday, March 11. The rating was maintained by Maxim Group on Tuesday, December 22 with “Buy”. As per Tuesday, November 10, the company rating was maintained by Roth Capital. The company was upgraded on Tuesday, December 8 by Cantor Fitzgerald. The company was downgraded on Wednesday, June 29 by Raymond James.

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.
Bancshares Of America De last reported 20,356 shares in the company. United Fincl Advisers Ltd Liability Corp accumulated 50,000 shares or 0% of the stock. Raymond James Associates holds 10,500 shares or 0% of its portfolio. Next Fincl Grp holds 0% of its portfolio in Galena Biopharma Inc (NASDAQ:GALE) for 500 shares. Price T Rowe Assoc Md owns 60,900 shares or 0% of their US portfolio. Valmark Advisers has invested 0% of its portfolio in Galena Biopharma Inc (NASDAQ:GALE). Valley Natl Advisers holds 0% of its portfolio in Galena Biopharma Inc (NASDAQ:GALE) for 2,574 shares. The New York-based Teachers Advsr has invested 0% in Galena Biopharma Inc (NASDAQ:GALE). Amalgamated Fincl Bank has 19,348 shares for 0% of their US portfolio. Gp holds 0% of its portfolio in Galena Biopharma Inc (NASDAQ:GALE) for 105,571 shares. Wells Fargo Mn reported 192,335 shares or 0% of all its holdings. Airain Ltd accumulated 0% or 53,843 shares. Credit Suisse Ag last reported 0% of its portfolio in the stock. The Germany-based Deutsche Bancorp Ag has invested 0% in Galena Biopharma Inc (NASDAQ:GALE). Sabby last reported 0% of its portfolio in the stock.

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

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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