Share Dump Drops Gaithersburg-Based Genvec's Stocks

Summary


Shares of GenVec Inc. plunged as much as 25 percent yesterday following news the Gaithersburg-based firm's top shareholder had sold more than 6.85 million shares.

GenVec board member Harold R. Werner reported the Friday sale of the shares on behalf of his venture fund HealthCare Ventures LLC, at just $1.25 per share, according to documents filed yesterday with the Securities and Exchange Commission.

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Share Dump Drops Gaithersburg-Based Genvec's Stocks

Until the sale, HealthCare Ventures had been GenVec's largest institutional shareholder with more than 10.4 million sh...

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