Short Interest in Gain Therapeutics, Inc. (NASDAQ:GANX) Decreases By 24.5%

Gain Therapeutics, Inc. (NASDAQ:GANX) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 348,800 shares, a decline of 24.5% from the February 13th total of 462,200 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily volume of 232,700 shares, the days-to-cover ratio is currently 1.5 days.

Hedge Funds Weigh In On Gain Therapeutics

A number of institutional investors have recently added to or reduced their stakes in GANX. Geode Capital Management LLC increased 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 purchasing an additional 88,236 shares in the last quarter. Benedict Financial Advisors Inc. acquired a new position in Gain Therapeutics during the 4th quarter worth approximately $35,000. Sprott Inc. acquired a new position in Gain Therapeutics during the 4th quarter worth approximately $30,000. Jones Financial Companies Lllp increased its position in Gain Therapeutics by 83.6% during the 4th quarter. Jones Financial Companies Lllp now owns 98,250 shares of the company’s stock worth $212,000 after purchasing an additional 44,750 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Gain Therapeutics during the 4th quarter worth approximately $198,000. 11.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on GANX shares. Scotiabank started coverage on shares of Gain Therapeutics in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $12.00 price objective for the company. Roth Mkm reiterated a “buy” rating and issued a $7.00 price objective on shares of Gain Therapeutics in a research note on Tuesday, December 24th. Roth Capital upgraded shares of Gain Therapeutics to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Gain Therapeutics in a research report on Monday, November 25th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Gain Therapeutics presently has an average rating of “Buy” and an average target price of $8.20.

Gain Therapeutics Price Performance

Shares of NASDAQ:GANX opened at $2.11 on Monday. The firm has a 50 day moving average of $2.23 and a 200-day moving average of $1.99. The stock has a market capitalization of $55.97 million, a PE ratio of -1.92 and a beta of 0.14. The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 0.04. Gain Therapeutics has a 12 month low of $0.89 and a 12 month high of $4.63.

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.