Gain Therapeutics, Inc. (NASDAQ:GANX) Sees Significant Growth in Short Interest

Gain Therapeutics, Inc. (NASDAQ:GANX) was the recipient of a significant growth in short interest in 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. Currently, 2.7% of the shares of the company are short sold. Based on an average daily trading volume, of 404,400 shares, the short-interest ratio is presently 1.6 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Hohimer Wealth Management LLC bought a new position in shares of Gain Therapeutics during the second quarter worth approximately $422,000. Geode Capital Management LLC boosted its stake in shares of Gain Therapeutics by 48.0% in the third quarter. Geode Capital Management LLC now owns 271,972 shares of the company’s stock valued at $484,000 after buying an additional 88,236 shares during the period. Renaissance Technologies LLC grew its position in Gain Therapeutics by 154.2% during the second quarter. Renaissance Technologies LLC now owns 118,700 shares of the company’s stock worth $152,000 after buying an additional 72,000 shares in the last quarter. Finally, Warberg Asset Management LLC bought a new position in Gain Therapeutics during the 2nd quarter worth $66,000. Institutional investors own 11.97% of the company’s stock.

Gain Therapeutics Stock Performance

NASDAQ:GANX traded up $0.10 during mid-day trading on Friday, hitting $1.85. 450,962 shares of the stock were exchanged, compared to its average volume of 268,783. The firm’s 50-day simple moving average is $2.03 and its 200 day simple moving average is $1.77. The stock has a market capitalization of $47.11 million, a price-to-earnings ratio of -1.68 and a beta of 0.33. Gain Therapeutics has a fifty-two week low of $0.89 and a fifty-two week high of $5.33. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.84 and a current ratio of 2.84.

Analyst Upgrades and Downgrades

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

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.