Zacks Investment Research upgraded shares of Gain Therapeutics (NASDAQ:GANX) from a hold rating to a buy rating in a research note released on Tuesday morning, Zacks.com reports. The brokerage currently has $9.50 price objective on the stock.
According to Zacks, “Gain Therapeutics Inc. is redefining drug discovery with its See-Tx(TM) target identification platform. It involved in identifying and optimizing allosteric binding sites which have never before been targeted. The company is unlocking new treatment options for difficult-to-treat disorders characterized by protein misfolding. Gain Therapeutics Inc. is based in BETHESDA, Md. “
GANX opened at $7.62 on Tuesday. Gain Therapeutics has a 12-month low of $7.35 and a 12-month high of $17.93. The company has a debt-to-equity ratio of 0.02, a quick ratio of 18.09 and a current ratio of 18.09. The stock’s fifty day moving average price is $8.43.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Greenlight Capital Inc. purchased a new stake in shares of Gain Therapeutics during the 1st quarter worth $8,155,000. Bridgeway Capital Management LLC purchased a new stake in shares of Gain Therapeutics during the 2nd quarter worth $501,000. Telemetry Investments L.L.C. purchased a new stake in shares of Gain Therapeutics during the 2nd quarter worth $303,000. Millennium Management LLC lifted its stake in shares of Gain Therapeutics by 66.2% during the 2nd quarter. Millennium Management LLC now owns 23,878 shares of the company’s stock worth $239,000 after purchasing an additional 9,511 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Gain Therapeutics during the 1st quarter worth $339,000. 7.53% of the stock is currently owned by institutional investors and hedge funds.
Gain Therapeutics Company Profile
Gain Therapeutics, Inc, a development stage biotechnology company, engages in developing various therapeutics to treat diseases caused by protein misfolding. It focuses rare genetic diseases and neurological disorders. The company uses its Site-Directed Enzyme Enhancement Therapy platform to discover novel allosteric sites on misfolded proteins and identify proprietary small molecules that bind these sites and restore protein folding, treating the underlying disease.
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