Maxim Group initiated coverage on shares of Navidea Biopharmaceuticals (NYSEAMERICAN:NAVB) in a research note issued to investors on Thursday, The Fly reports. The firm issued a buy rating and a $2.00 price target on the biopharmaceutical company’s stock.
“We are initiating coverage of Buy rating and $2 price target. Navidea is developing an immunodiagnostic platform called Tc99m-tilmanocept (Tc-Til) in rheumatoid arthritis (RA), cardiovascular disease (CVD), Kaposi’s sarcoma, and NASH, and other solid tumors.”,” Maxim Group’s analyst commented.
NAVB stock opened at $0.71 on Thursday. Navidea Biopharmaceuticals has a 12 month low of $0.54 and a 12 month high of $7.40.
Navidea Biopharmaceuticals (NYSEAMERICAN:NAVB) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.24) EPS for the quarter. The firm had revenue of $0.14 million for the quarter.
In other Navidea Biopharmaceuticals news, major shareholder John K. Jr. Scott purchased 4,000,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were acquired at an average cost of $0.75 per share, for a total transaction of $3,000,000.00. Following the completion of the transaction, the insider now directly owns 5,113,078 shares of the company’s stock, valued at $3,834,808.50. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders bought 4,011,300 shares of company stock worth $3,018,490 over the last quarter.
A hedge fund recently raised its stake in Navidea Biopharmaceuticals stock. Virtu Financial LLC increased its position in shares of Navidea Biopharmaceuticals Inc (NYSEAMERICAN:NAVB) by 94.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 186,972 shares of the biopharmaceutical company’s stock after acquiring an additional 90,647 shares during the quarter. Virtu Financial LLC owned approximately 0.09% of Navidea Biopharmaceuticals worth $26,000 as of its most recent filing with the SEC.
About Navidea Biopharmaceuticals
Navidea Biopharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of precision immunodiagnostic agents and immunotherapeutics. The company operates in two segments, Diagnostic Substances and Therapeutic Development Programs. The company develops Manocept platform to target the CD206 mannose receptor expressed on activated macrophages; and NAV4694, a fluorine-18 labeled positron emission tomography imaging agent for use as an aid in the imaging and evaluation of patients with signs or symptoms of Alzheimers disease and mild cognitive impairment.
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