Uber Stock Barely Higher After Billion-Dollar Loss

Genocea Biosciences has been subject to an enormous amount of analyst love

Emma Duncan

Managing Editor

May 31, 2019 at 2:53 PM

gnca
UBER

U.S. markets are taking a massive blow this afternoon, as President Donald Trump continues to ramp up global trade tensions. A pair of stocks also in focus today are ride-hailing service Uber Technologies Inc (NYSE:UBER) and drug name Genocea Biosciences Inc (NASDAQ:GNCA). Below, we will dive into what is moving the shares of UBER and GNCA.

UBER Shares Muted After Earnings Surprise

Shares of UBER are flat in afternoon trading, though the stock was seeing notable gains as recently as this morning. Last seen around $39.78, the Lyft rival is keeping its head above water after yesterday evening sharing a narrower-than-expected $1 billion first-quarter loss, and a 20% rise in quarterly revenue. Looking more broadly, the security is just below its May 10 opening share price of $42.

This morning, D.A. Davidson slashed its price target to $46 from $53, to what still would be record-high territory for the stock. Overall, five analysts are following the equity, three of which sport a tepid "hold" rating. However, the remaining two carry a "strong buy," while the stock's average 12-month price target stands at $53.83, a 35% upside to current levels.

Genocea Biosciences Nears Annual-High Territory

Drug stock GNCA has gapped 30.2% higher to trade at $5.86 at midday, earlier touching an intraday peak of $8.00 -- a chip shot from annual-high territory. The equity is soaring on the back of news that the company's vaccine candidate GEN-009 was selected to be featured in the American Society of Clinical Oncology's (ASCO) top 10 abstracts in immuno-oncology. GNCA has more than doubled year-to-date, and today is set to close back atop its 80-day moving average for the first time since its May 17 pullback.

Analysts have been extremely optimistic toward the biopharma. Coming into today, all three carried "buy" or "strong buy" recommendations, not to mention the stock's astronomical average 12-month price target of $25.67, which comes in at four-fold its current trading price.

Follow @Schaeffers

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!