Gain Therapeutics (NASDAQ:GANX) Releases Earnings Results, Meets Estimates

Gain Therapeutics (NASDAQ:GANX) posted its earnings results on Wednesday. The company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15), Zacks reports.

Gain Therapeutics Trading Up 11.4%

GANX stock traded up $0.31 during midday trading on Wednesday, reaching $2.99. 2,853,569 shares of the company traded hands, compared to its average volume of 427,041. The business has a 50 day moving average of $1.87 and a 200-day moving average of $1.81. The firm has a market capitalization of $108.18 million, a price-to-earnings ratio of -4.74 and a beta of 0.13. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.79 and a current ratio of 1.79. Gain Therapeutics has a 52-week low of $1.41 and a 52-week high of $3.00.

Analyst Ratings Changes

GANX has been the subject of a number of research reports. Roth Capital reduced their price target on shares of Gain Therapeutics from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, August 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Gain Therapeutics in a report on Wednesday, October 8th. BTIG Research restated a “buy” rating and set a $9.00 target price on shares of Gain Therapeutics in a research report on Wednesday, October 15th. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Gain Therapeutics in a research report on Monday, October 13th. Finally, Maxim Group raised their price target on Gain Therapeutics from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Gain Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $7.86.

Institutional Trading of Gain Therapeutics

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Gain Therapeutics by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 290,462 shares of the company’s stock worth $523,000 after purchasing an additional 8,251 shares during the period. JPMorgan Chase & Co. acquired a new stake in Gain Therapeutics during the third quarter worth about $47,000. Finally, Marshall Wace LLP increased its position in shares of Gain Therapeutics by 41.0% during the second quarter. Marshall Wace LLP now owns 276,433 shares of the company’s stock valued at $498,000 after acquiring an additional 80,407 shares during the last quarter. Hedge funds and other institutional investors 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.