Sectoral Asset Management, Inc. recently announced the acquisition of new stake in Galera Therapeutics Inc. (NASDAQ:GRTX). This fresh investment now brings its stake to 4.05% valued currently at $2.95 million. In addition, Rosalind Advisors, Inc. raised its holdings by 1.54 million to 1.54 million shares.
With over 2.15 million Galera Therapeutics Inc. (GRTX) shares trading Tuesday and a closing price of $2.10 on the day, the dollar volume was approximately $4.52 million. The shares have shown a positive half year performance of 11.11% and its price on 03/14/23 gained nearly 11.11%. Currently, there are 27.95M common shares owned by the public and among those 25.34M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for GRTX have a consensus price objective of $9.50. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $6.00. The average price target is 81.25% above its recent price level and an upside to the estimated low will see the stock gain 65.0% over that period. But an upside of 86.0% will see the stock hit the forecast high price target while median target price for the stock is $8.50.
Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 20,000 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 4,000 shares.
The top 3 mutual fund holders in Galera Therapeutics Inc. are Vanguard Total Stock Market Index, Tekla Healthcare Opportunities Fu, and Tekla Healthcare Investors. Vanguard Total Stock Market Index owns 0.54 million shares of the company’s stock, all valued at over $0.95 million. The company bought an additional 0.16 million shares recently to bring their total holdings to about 1.31% of the shares outstanding. Tekla Healthcare Investors now owns shares totaling to 0.72% of the shares outstanding.
Shares of Galera Therapeutics Inc. (NASDAQ: GRTX) opened at $2.02, up $0.13 from a prior closing price of $1.89. However, the script later moved the day high at 2.2600, up 11.11%. The company’s stock has a 5-day price change of 15.38% and 26.51% over the past three months. GRTX shares are trading 40.94% year to date (YTD), with the 12-month market performance down to -4.98% lower. It has a 12-month low price of $1.12 and touched a high of $2.75 over the same period. GRTX has an average intraday trading volume of 470.25K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.58%, 6.25%, and 28.84% respectively.
Institutional ownership of Galera Therapeutics Inc. (NASDAQ: GRTX) shares accounts for 40.10% of the company’s 27.95M shares outstanding. Mutual fund holders own 5.71%, while other institutional holders and individual stakeholders account for 9.43% and 14.30% respectively.
It has a market capitalization of $86.71M and a beta (3y monthly) value of 1.75. The earnings-per-share (ttm) stands at -$2.30. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.21% over the week and 12.51% over the month.
Analysts forecast that Galera Therapeutics Inc. (GRTX) will achieve an EPS of -$0.52 for the current quarter, -$0.41 for the next quarter and -$1.29 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.61 while analysts give the company a high EPS estimate of -$0.42. Comparatively, EPS for the current quarter was -$0.64 a year ago. Earnings per share for the fiscal year are expected to increase by 26.40%, and -62.20% over the next financial year. EPS should grow at an annualized rate of 44.30% over the next five years, compared to -14.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Galera Therapeutics Inc. (GRTX) as a “Strong Buy” at a consensus score of 1.40. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
BofA Securities coverage for the Galera Therapeutics Inc. (GRTX) stock in a research note released on October 19, 2021 offered a Underperform rating with a price target of $2. Credit Suisse was of a view on April 26, 2021 that the stock is Outperform, while Credit Suisse gave the stock Outperform rating on December 16, 2020, issuing a price target of $9- $15. H.C. Wainwright on their part issued Buy rating on December 07, 2020.
