Genprex, Inc. (“Genprex” or the “Company”) (NASDAQ: GNPX), a clinical stage gene therapy company today announced it has entered into securities purchase agreements with institutional investors for the purchase and sale of 7,620,000 shares of common stock, par value $0.001 per share at an offering price of $1.05 per share.
This is a good secondary offering right after Food and Drug Administration had granted its experimental cancer treatment a fast-track designation.
Here is a short term trade Idea :
Buy Between $0.90 to $1.30.
Hold for 4-8 months.
Target First $3.50 – Will update next near FDA approval. With Fast track designation this will be interesting play.
Update Feb14th : Stock hit above $5 much early than i expected. Still holding this, will update the target price later.
Update Feb19th: GNPX announced another purchase agreements with institutional investors for the purchase and sale of 5,000,000 shares of common stock, par value $0.001 per share, at an offering price of $3.50 per share . There might be a pull back near this price, which will be a good price to re-enter.
Update Feb 27 2019: GNPX tested the $3.50 area which was a good buying oppourtunity we might see that level again or even below, add up and stay long!!
Stop Loss and Risk:
$0.70. Also there is a risk of reverse stock split so keep an eye on that.
Updated stop loss $1.80.