Short Interest in Gain Therapeutics, Inc. (NASDAQ:GANX) Decreases By 12.6%

Gain Therapeutics, Inc. (NASDAQ:GANX) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 572,000 shares, a drop of 12.6% from the September 30th total of 654,300 shares. Based on an average daily volume of 387,000 shares, the days-to-cover ratio is presently 1.5 days. Approximately 2.4% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GANX. HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of Gain Therapeutics in a report on Wednesday, October 9th. Oppenheimer reissued an “outperform” rating and issued a $8.00 price objective on shares of Gain Therapeutics in a report on Wednesday, August 14th. Finally, Chardan Capital reissued a “buy” rating and issued a $6.00 price objective on shares of Gain Therapeutics in a report on Friday, August 9th.

Insider Transactions at Gain Therapeutics

In other news, Chairman Khalid Islam acquired 50,000 shares of Gain Therapeutics stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $1.00 per share, for a total transaction of $50,000.00. Following the completion of the purchase, the chairman now directly owns 50,000 shares in the company, valued at $50,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.70% of the company’s stock.

Institutional Trading of Gain Therapeutics

Institutional investors have recently made changes to their positions in the company. Warberg Asset Management LLC acquired a new stake in shares of Gain Therapeutics in the second quarter worth approximately $66,000. Renaissance Technologies LLC lifted its position in Gain Therapeutics by 154.2% during the second quarter. Renaissance Technologies LLC now owns 118,700 shares of the company’s stock worth $152,000 after buying an additional 72,000 shares in the last quarter. Finally, Hohimer Wealth Management LLC purchased a new position in Gain Therapeutics during the second quarter worth approximately $422,000. 11.97% of the stock is owned by institutional investors and hedge funds.

Gain Therapeutics Price Performance

GANX traded down $0.08 during trading on Tuesday, hitting $2.57. The company’s stock had a trading volume of 359,186 shares, compared to its average volume of 266,508. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.03. Gain Therapeutics has a twelve month low of $0.89 and a twelve month high of $5.33. The business’s fifty day simple moving average is $1.78 and its 200 day simple moving average is $1.85. The firm has a market capitalization of $65.61 million, a price-to-earnings ratio of -1.98 and a beta of 0.42.

Gain Therapeutics (NASDAQ:GANX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.11). On average, equities research analysts forecast that Gain Therapeutics will post -1.05 EPS for the current fiscal year.

Gain Therapeutics Company Profile

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.