Galera Therapeutics (NASDAQ:GRTX) Given New $8.00 Price Target at Credit Suisse Group
Galera Therapeutics (NASDAQ:GRTX) had its price target lowered by Credit Suisse Group from $14.00 to $8.00 in a research note issued to investors on Wednesday, AnalystRatings.com reports. The brokerage currently has a neutral rating on the stock.
A number of other research firms have also recently issued reports on GRTX. Zacks Investment Research raised shares of Galera Therapeutics from a sell rating to a hold rating in a report on Tuesday, July 21st. ValuEngine raised shares of Galera Therapeutics from a hold rating to a buy rating in a report on Thursday, April 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Galera Therapeutics has an average rating of Buy and an average price target of $17.20.
NASDAQ:GRTX opened at $6.96 on Wednesday. Galera Therapeutics has a 52 week low of $5.58 and a 52 week high of $19.50. The firm has a 50 day moving average of $8.09 and a 200 day moving average of $11.05. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $172.78 million and a price-to-earnings ratio of -0.43.
In other news, insider Jon T. Holmlund sold 3,064 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $12.16, for a total value of $37,258.24. Following the sale, the insider now owns 3,064 shares in the company, valued at $37,258.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bioventures Ltd Novartis sold 1,001,312 shares of the stock in a transaction on Friday, June 19th. The stock was sold at an average price of $8.25, for a total transaction of $8,260,824.00. The disclosure for this sale can be found here. Insiders sold 1,059,278 shares of company stock worth $8,811,502 in the last quarter. Company insiders own 19.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new stake in Galera Therapeutics during the first quarter valued at $120,000. TCI Wealth Advisors Inc. purchased a new position in shares of Galera Therapeutics in the second quarter worth about $43,000. BlackRock Inc. lifted its stake in shares of Galera Therapeutics by 5.8% in the first quarter. BlackRock Inc. now owns 71,557 shares of the company’s stock worth $680,000 after buying an additional 3,923 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Galera Therapeutics by 31.7% in the first quarter. Geode Capital Management LLC now owns 49,217 shares of the company’s stock worth $467,000 after buying an additional 11,843 shares in the last quarter. Finally, State Street Corp purchased a new position in shares of Galera Therapeutics in the first quarter worth about $143,000. Institutional investors own 68.05% of the company’s stock.
About Galera Therapeutics
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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