Galera Therapeutics (NASDAQ:GRTX) Sees Large Decline in Short Interest

Galera Therapeutics (NASDAQ:GRTX) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 51,700 shares, a drop of 8.7% from the January 15th total of 56,600 shares. Based on an average daily volume of 112,400 shares, the short-interest ratio is presently 0.5 days. Approximately 0.7% of the shares of the stock are sold short.

Shares of GRTX traded down $0.09 during midday trading on Friday, hitting $13.95. The company’s stock had a trading volume of 6,355 shares. Galera Therapeutics has a one year low of $8.16 and a one year high of $19.50. The company’s fifty day moving average price is $13.79.

Galera Therapeutics (NASDAQ:GRTX) last issued its quarterly earnings results on Tuesday, December 10th. The company reported ($51.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($50.98). On average, equities analysts expect that Galera Therapeutics will post -1.92 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on GRTX. Credit Suisse Group began coverage on Galera Therapeutics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $14.00 price target on the stock. Citigroup began coverage on Galera Therapeutics in a research note on Monday, December 2nd. They issued a “buy” rating and a $20.00 price target on the stock. BTIG Research began coverage on Galera Therapeutics in a research note on Monday, December 2nd. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Bank of America began coverage on Galera Therapeutics in a research note on Monday, December 2nd. They issued a “buy” rating and a $15.00 price target on the stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC acquired a new stake in shares of Galera Therapeutics during the 4th quarter valued at $28,000. UBS Group AG acquired a new stake in shares of Galera Therapeutics during the 4th quarter valued at $45,000. Perceptive Advisors LLC acquired a new stake in shares of Galera Therapeutics during the 4th quarter valued at $4,277,000. RA Capital Management L.P. acquired a new stake in shares of Galera Therapeutics during the 4th quarter valued at $13,873,000. Finally, Blackstone Group Inc acquired a new stake in shares of Galera Therapeutics during the 4th quarter valued at $22,095,000. 17.59% of the stock is currently owned by institutional investors.

Galera Therapeutics Company Profile

Galera Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the development and commercialization of therapeutics for the transformation of radiotherapy in cancer. The company's lead product candidate is GC4419, a small molecule dismutase mimetic, which is in Phase III clinical trial for the treatment of radiation-induced severe oral mucositis in patients with head and neck cancer, as well as in Phase I clinical trial for the treatment of radiotherapy-induced esophagitis.

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