Genenta Science (GNTA) stock rocketed higher on Friday after the clinical-stage biotechnology company announced a strategic partnership with advanced therapy and nucleic acids solutions company Anemocyte.
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The partnership is focused on its lentiviral vector (LVV) Plasmid DNA technology platform and builds on a previous Plasmid DNA production agreement between the two companies. Anemocyte will use the LVV Plasmid DNA platform to enhance its offering to clients. This will see the technology used in preclinical to commercial stages of the company’s research and development pipeline.
Pierluigi Paracchi, CEO of Genenta Science, said, “Our expanded collaboration with Anemocyte represents a natural progression of a successful partnership in plasmid DNA manufacturing. By making our clinically validated LVV Plasmid DNA technology platform available to Anemocyte and its clients, we are contributing to the reliable and scalable development of advanced therapy programs across the industry.”
Genenta Science Stock Movement Today
Genenta Science stock was up 273.07% in pre-market trading on Friday, following a slight drop yesterday. The stock was down 25.75% year-to-date and 38.17% over the past 12 months.
Today’s news resulted in heavy trading of GNTA stock. This saw some 7.6 million shares change hands as of this writing, compared to a three-month daily average of about 13,180 shares.
Is Genenta Science Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Genenta Science is Moderate Buy, based on a single Buy rating over the past three months. With that came a $21 price target for GNTA stock, representing a potential 550.15% upside for the shares.
