HC Wainwright Reaffirms Buy Rating for Gain Therapeutics (NASDAQ:GANX)

HC Wainwright reissued their buy rating on shares of Gain Therapeutics (NASDAQ:GANX) in a research note issued to investors on Tuesday, Benzinga reports. HC Wainwright currently has a $8.00 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. Oppenheimer reiterated an outperform rating and set a $8.00 target price on shares of Gain Therapeutics in a research note on Wednesday, August 14th. Chardan Capital restated a buy rating and set a $6.00 price objective on shares of Gain Therapeutics in a report on Friday, August 9th.

Gain Therapeutics Stock Up 4.3 %

Gain Therapeutics stock opened at $1.09 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.84 and a quick ratio of 2.84. Gain Therapeutics has a fifty-two week low of $0.89 and a fifty-two week high of $5.33. The firm has a fifty day moving average price of $1.16 and a two-hundred day moving average price of $2.47. The firm has a market cap of $19.59 million, a price-to-earnings ratio of -0.72 and a beta of 0.35.

Gain Therapeutics (NASDAQ:GANX) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.11). As a group, analysts forecast that Gain Therapeutics will post -1.05 earnings per share for the current year.

Insider Activity at Gain Therapeutics

In other Gain Therapeutics news, Chairman Khalid Islam purchased 50,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $1.00 per share, for a total transaction of $50,000.00. Following the completion of the purchase, the chairman now directly owns 50,000 shares of the company’s stock, valued at $50,000. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders bought 81,400 shares of company stock worth $85,284. 11.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its holdings in Gain Therapeutics by 154.2% during the second quarter. Renaissance Technologies LLC now owns 118,700 shares of the company’s stock valued at $152,000 after purchasing an additional 72,000 shares in the last quarter. Warberg Asset Management LLC bought a new stake in shares of Gain Therapeutics during the second quarter valued at approximately $66,000. Finally, Hohimer Wealth Management LLC acquired a new stake in shares of Gain Therapeutics in the second quarter valued at approximately $422,000. Institutional investors and hedge funds 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.