Gain Therapeutics, Inc. (NASDAQ:GANX – Get Free Report) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 572,000 shares, a decline of 12.6% from the September 30th total of 654,300 shares. Currently, 2.4% of the company’s shares are sold short. Based on an average daily trading volume, of 387,000 shares, the days-to-cover ratio is currently 1.5 days.
Analyst Upgrades and Downgrades
Several research firms recently commented on GANX. Chardan Capital reissued a “buy” rating and set a $6.00 target price on shares of Gain Therapeutics in a research note on Friday, August 9th. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Gain Therapeutics in a research note on Wednesday, October 9th. Finally, Oppenheimer reissued an “outperform” rating and set a $8.00 target price on shares of Gain Therapeutics in a research note on Wednesday, August 14th.
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Gain Therapeutics Stock Down 3.0 %
Gain Therapeutics (NASDAQ:GANX – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.11). On average, equities analysts predict that Gain Therapeutics will post -1.05 earnings per share for the current year.
Insider Activity
In other news, Chairman Khalid Islam acquired 50,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $1.00 per share, with a total value of $50,000.00. Following the completion of the purchase, the chairman now owns 50,000 shares of the company’s stock, valued at $50,000. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 11.70% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the business. Hohimer Wealth Management LLC acquired a new position in shares of Gain Therapeutics during the 2nd quarter worth about $422,000. Renaissance Technologies LLC lifted its holdings in shares of Gain Therapeutics by 154.2% in the 2nd quarter. Renaissance Technologies LLC now owns 118,700 shares of the company’s stock valued at $152,000 after purchasing an additional 72,000 shares during the last quarter. Finally, Warberg Asset Management LLC purchased a new stake in shares of Gain Therapeutics in the 2nd quarter valued at about $66,000. 11.97% of the stock is owned by institutional investors and hedge funds.
About Gain Therapeutics
Gain Therapeutics, Inc, a biotechnology company, develops novel small molecule therapeutics to treat diseases across various therapeutic areas. Its drug discovery platform Magellan discovers novel allosteric binding sites in a disease; identifies proprietary small molecules that bind these sites to modulate protein function; and treats the underlying cause of the disease.
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