Gain Therapeutics (NASDAQ:GANX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The firm currently has a $9.50 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 24.67% from the stock’s previous close.
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. “
Shares of GANX traded down $0.86 during trading hours on Tuesday, reaching $7.62. The stock had a trading volume of 115,798 shares, compared to its average volume of 107,953. Gain Therapeutics has a 12 month low of $7.35 and a 12 month high of $17.93. The stock’s 50-day moving average is $8.43. The company has a quick ratio of 18.09, a current ratio of 18.09 and a debt-to-equity ratio of 0.02.
Several hedge funds have recently added to or reduced their stakes in GANX. Jane Street Group LLC purchased a new stake in shares of Gain Therapeutics during the 1st quarter valued at $339,000. Davidson Kempner Capital Management LP bought a new position in Gain Therapeutics during the first quarter valued at about $222,000. Greenlight Capital Inc. bought a new position in Gain Therapeutics during the first quarter valued at about $8,155,000. Millennium Management LLC purchased a new stake in Gain Therapeutics during the first quarter worth about $214,000. Finally, Worth Venture Partners LLC bought a new stake in Gain Therapeutics in the first quarter worth about $232,000. 7.53% of the stock is owned by institutional investors.
About Gain Therapeutics
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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