Galera Therapeutics Inc. (NASDAQ: GRTX) stock jumped 1.11% on Monday to $0.19 against a previous-day closing price of $0.19. With 2.26 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.59 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.2017 whereas the lowest price it dropped to was $0.1886. The 52-week range on GRTX shows that it touched its highest point at $3.59 and its lowest point at $0.19 during that stretch. Beta for the stock currently stands at 1.91.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GRTX was down-trending over the past week, with a drop of -1.45%, but this was down by -17.84% over a month. Three-month performance dropped to -93.76% while six-month performance fell -91.33%. The stock lost -89.80% in the past year, while it has lost -87.20% so far this year. A look at the trailing 12-month EPS for GRTX yields -2.16 with Next year EPS estimates of -0.80. For the next quarter, that number is -0.40. This implies an EPS growth rate of 26.40% for this year and 53.50% for next year. EPS is expected to grow by 34.40% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -14.70%.
Float and Shares Shorts:
At present, 42.92 million GRTX shares are outstanding with a float of 39.83 million shares on hand for trading. On Aug 30, 2023, short shares totaled 2.43 million, which was 5.52% higher than short shares on Jul 30, 2023. In addition to Dr. J. Mel Sorensen M.D. as the firm’s CEO, Pres & Director, Mr. Christopher Degnan serves as its Chief Financial Officer.
Through their ownership of 46.38% of GRTX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.52% of GRTX, in contrast to 17.63% held by mutual funds. Shares owned by individuals account for 13.67%. As the largest shareholder in GRTX with 4.56% of the stake, Sectoral Asset Management, Inc. holds 2,005,054 shares worth 2,005,054. A second-largest stockholder of GRTX, Alyeska Investment Group LP, holds 1,698,012 shares, controlling over 3.87% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in GRTX, holding 1,412,669 shares or 3.22% stake. With a 2.57% stake in GRTX, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,126,998 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.02% of GRTX stock, is the second-largest Mutual Fund holder. It holds 448,330 shares valued at 94149.0. Tekla Healthcare Opportunities Fu holds 0.72% of the stake in GRTX, owning 314,430 shares worth 66030.0.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, GRTX reported revenue of $0.00 and operating income of -$11.96M. The EBITDA in the recently reported quarter was -$11.85M and diluted EPS was -$0.54.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GRTX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GRTX analysts setting a high price target of $0.50 and a low target of $0.25, the average target price over the next 12 months is $0.35. Based on these targets, GRTX could surge 163.16% to reach the target high and rise by 31.58% to reach the target low. Reaching the average price target will result in a growth of 84.21% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GRTX stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 4 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 131,000 while 0 shares were sold.