Gain Therapeutics, Inc. (NASDAQ:GANX) Sees Significant Increase in Short Interest

Gain Therapeutics, Inc. (NASDAQ:GANX) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 658,300 shares, a growth of 15.1% from the October 15th total of 572,000 shares. Approximately 2.7% of the company’s shares are short sold. Based on an average trading volume of 404,400 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Investors Weigh In On Gain Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hohimer Wealth Management LLC bought a new stake in shares of Gain Therapeutics during the 2nd quarter worth approximately $422,000. Geode Capital Management LLC raised its position in Gain Therapeutics by 48.0% during the third quarter. Geode Capital Management LLC now owns 271,972 shares of the company’s stock worth $484,000 after acquiring an additional 88,236 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Gain Therapeutics by 154.2% in the second quarter. Renaissance Technologies LLC now owns 118,700 shares of the company’s stock valued at $152,000 after acquiring an additional 72,000 shares during the last quarter. Finally, Warberg Asset Management LLC bought a new position in shares of Gain Therapeutics in the 2nd quarter valued at about $66,000. 11.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on GANX shares. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Gain Therapeutics in a research note on Wednesday, October 9th. Chardan Capital reaffirmed a “buy” rating and issued a $6.00 target price on shares of Gain Therapeutics in a research note on Friday, August 9th. Finally, Oppenheimer reiterated an “outperform” rating and set a $8.00 target price on shares of Gain Therapeutics in a report on Wednesday, August 14th.

Gain Therapeutics Stock Up 5.7 %

Shares of NASDAQ GANX traded up $0.10 during midday trading on Friday, reaching $1.85. The company’s stock had a trading volume of 450,962 shares, compared to its average volume of 268,783. The stock has a 50 day simple moving average of $2.03 and a 200-day simple moving average of $1.77. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $47.11 million, a price-to-earnings ratio of -1.68 and a beta of 0.33. Gain Therapeutics has a fifty-two week low of $0.89 and a fifty-two week high of $5.33.

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.