Genenta Science (NASDAQ:GNTA) Trading Down 1.9% - Should You Sell?

Key Points

• Genenta Science's shares experienced a 1.9% decline, trading at $3.04 after reaching a low of $3.00 during mid-day. The trading volume also fell significantly by 49% compared to the average session.
• Institutional investors have recently increased their stakes in Genenta Science, with Algebris UK Ltd and Allianz SE raising their holdings by 122.2% and 126.2%, respectively, highlighting growing interest in the company's stock.
• The company is at a clinical stage, focusing on gene therapies for solid tumors, with its lead candidate, Temferon, undergoing Phase 1/2a clinical trials for glioblastoma multiforme treatment.

Genenta Science S.p.A. Unsponsored ADR (NASDAQ:GNTA - Get Free Report)'s stock price fell 1.9% during trading on Thursday . The stock traded as low as $3.00 and last traded at $3.04. 8,368 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 16,344 shares. The stock had previously closed at $3.10.

Genenta Science Stock Performance

The firm's 50 day moving average price is $3.56 and its 200-day moving average price is $3.80.

Institutional Investors Weigh In On Genenta Science

Hedge funds have recently modified their holdings of the company. Allianz SE boosted its stake in shares of Genenta Science by 126.2% during the 1st quarter. Allianz SE now owns 233,550 shares of the company's stock worth $927,000 after acquiring an additional 130,300 shares in the last quarter. Algebris UK Ltd lifted its stake in Genenta Science by 122.2% in the 1st quarter. Algebris UK Ltd now owns 100,000 shares of the company's stock valued at $368,000 after buying an additional 55,000 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in Genenta Science in the 4th quarter valued at about $46,000. 15.13% of the stock is owned by hedge funds and other institutional investors.

Genenta Science Company Profile

Genenta Science S.p.A., a clinical-stage biotechnology company, engages in the development of hematopoietic stem cell gene therapies for the treatment of solid tumors in Italy. Its lead product candidate is Temferon, which is in Phase 1/2a clinical trials for use in the treatment of glioblastoma multiforme in patients with unmethylated MGMT gene promoter.