Gain Therapeutics, Inc. (NASDAQ:GANX) Short Interest Update

Gain Therapeutics, Inc. (NASDAQ:GANX) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 658,300 shares, an increase of 15.1% from the October 15th total of 572,000 shares. Based on an average daily volume of 404,400 shares, the short-interest ratio is currently 1.6 days. Currently, 2.7% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

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

Gain Therapeutics Trading Up 5.7 %

GANX opened at $1.85 on Monday. Gain Therapeutics has a one year low of $0.89 and a one year high of $5.33. The company has a market cap of $47.10 million, a P/E ratio of -1.68 and a beta of 0.33. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.84 and a current ratio of 2.84. The business’s 50-day simple moving average is $2.03 and its 200-day simple moving average is $1.76.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Hohimer Wealth Management LLC acquired a new stake in Gain Therapeutics during the 2nd quarter worth approximately $422,000. Geode Capital Management LLC lifted its position in Gain Therapeutics by 48.0% during the 3rd 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 during the period. Renaissance Technologies LLC lifted its position in Gain Therapeutics by 154.2% during the 2nd quarter. Renaissance Technologies LLC now owns 118,700 shares of the company’s stock worth $152,000 after acquiring an additional 72,000 shares during the period. Finally, Warberg Asset Management LLC acquired a new stake in Gain Therapeutics during the 2nd quarter worth approximately $66,000. Hedge funds and other institutional investors own 11.97% of the company’s stock.

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.