Short interest in Gain Therapeutics, Inc. (NASDAQ: GANX) experienced a significant increase in December 2023. As of December 15, the total short interest rose to 2,073,310 shares, marking a remarkable growth of 64.5% from the 1,260,732 shares reported on November 30. Currently, approximately 5.8% of the company’s shares are sold short, indicating a notable shift in investor sentiment.
The average daily trading volume for Gain Therapeutics is 1,377,957 shares, which translates to a days-to-cover ratio of 1.5 days. This figure suggests that it would take a little over a day and a half for short sellers to cover their positions based on recent trading activity.
Stock Performance and Financial Metrics
In midday trading on Friday, Gain Therapeutics saw its stock price decline by $0.07, bringing it to $3.15. A total of 576,275 shares changed hands, which is below the average volume of 2,177,527 shares. The company’s financial metrics indicate a quick ratio of 2.52, a current ratio of 2.52, and a debt-to-equity ratio of 0.05. Gain Therapeutics holds a market capitalization of $121.16 million and a price-to-earnings ratio of -5.16, reflecting ongoing challenges in profitability.
The stock has experienced a year range between a low of $1.41 and a high of $4.34. The company last reported its earnings on November 12, 2023, posting a loss of ($0.15) earnings per share, which met analysts’ expectations.
Analyst Ratings and Future Outlook
Several analysts have recently revised their ratings for Gain Therapeutics. Maxim Group raised its price target from $5.00 to $7.00, maintaining a “buy” rating. Similarly, Roth Capital reiterated a “buy” rating with a target price of $10.00. In contrast, Weiss Ratings issued a “sell (e+)” rating on December 22, while BTIG Research reaffirmed a “buy” rating with a price target of $9.00.
Overall, six investment analysts currently rate Gain Therapeutics as a “Buy,” while one has issued a “Sell” rating. According to MarketBeat.com, the stock maintains a consensus rating of “Moderate Buy” with a target price of $8.67.
Gain Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing precision therapeutics for neurodegenerative and rare diseases. Utilizing its proprietary allosteric modulation platform, AlphaTarget, the company aims to discover and optimize small molecule modulators that improve protein folding and function. Its lead clinical candidate, GT-022, is being explored for treatment of Gaucher disease, a rare lysosomal storage disorder.
This growth in short interest reflects the evolving dynamics in the markets surrounding Gain Therapeutics, with analysts providing a spectrum of insights into the company’s future prospects.
