Gain Therapeutics, Inc. (NASDAQ:GANX) Short Interest Up 15.1% in October

Gain Therapeutics, Inc. (NASDAQ:GANX) was the recipient of a significant growth in short interest during the month of 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 sold short. Based on an average trading volume of 404,400 shares, the short-interest ratio is currently 1.6 days.

Gain Therapeutics Stock Performance

Shares of Gain Therapeutics stock opened at $1.85 on Monday. Gain Therapeutics has a 52 week low of $0.89 and a 52 week high of $5.33. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $2.03 and a 200-day moving average price of $1.76. The company has a market cap of $47.10 million, a PE ratio of -1.68 and a beta of 0.33.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of 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 stake in shares of Gain Therapeutics by 154.2% during the 2nd quarter. Renaissance Technologies LLC now owns 118,700 shares of the company’s stock valued at $152,000 after buying an additional 72,000 shares in the last quarter. Warberg Asset Management LLC bought a new position in Gain Therapeutics in the 2nd quarter worth approximately $66,000. Finally, Hohimer Wealth Management LLC purchased a new position in Gain Therapeutics in the 2nd quarter valued at approximately $422,000. 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.