Gain Therapeutics, Inc. (NASDAQ:GANX) Sees Large Growth in Short Interest

Gain Therapeutics, Inc. (NASDAQ:GANX) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 555,400 shares, a growth of 195.1% from the August 15th total of 188,200 shares. Based on an average daily trading volume, of 420,200 shares, the days-to-cover ratio is presently 1.3 days. Currently, 2.3% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GANX. Chardan Capital reiterated a “buy” rating and issued a $6.00 price objective on shares of Gain Therapeutics in a research note on Friday, August 9th. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of Gain Therapeutics in a research note on Tuesday, September 3rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $8.00 price target on shares of Gain Therapeutics in a research report on Wednesday, August 14th.

Gain Therapeutics Trading Down 1.3 %

NASDAQ:GANX traded down $0.02 on Thursday, hitting $1.47. 143,957 shares of the stock were exchanged, compared to its average volume of 247,975. 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 fifty-two week low of $0.89 and a fifty-two week high of $5.33. The stock has a market cap of $26.54 million, a PE ratio of -0.98 and a beta of 0.35. The stock has a fifty day moving average of $1.17 and a 200-day moving average of $2.35.

Gain Therapeutics (NASDAQ:GANX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). As a group, equities analysts expect that Gain Therapeutics will post -1.05 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Khalid Islam acquired 50,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $1.00 per share, for a total transaction of $50,000.00. Following the purchase, the chairman now owns 50,000 shares of the company’s stock, valued at approximately $50,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders purchased 81,400 shares of company stock worth $85,284. 11.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake 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 worth $152,000 after buying an additional 72,000 shares in the last quarter. Warberg Asset Management LLC acquired a new stake in shares of Gain Therapeutics during the second quarter worth $66,000. Finally, Hohimer Wealth Management LLC purchased a new position in shares of Gain Therapeutics during the second quarter valued at $422,000. Institutional investors and hedge funds own 11.97% of the company’s stock.

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.