G1 Therapeutics Inc (NASDAQ:GTHX) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 5,260,000 shares, an increase of 10.5% from the September 30th total of 4,760,000 shares. Based on an average daily trading volume, of 432,400 shares, the days-to-cover ratio is presently 12.2 days. Approximately 17.4% of the shares of the company are sold short.
A number of brokerages have recently commented on GTHX. Cowen reiterated a “buy” rating on shares of G1 Therapeutics in a report on Wednesday, November 6th. B. Riley set a $55.00 price objective on G1 Therapeutics and gave the company a “buy” rating in a research report on Friday, September 27th. Needham & Company LLC set a $74.00 price objective on G1 Therapeutics and gave the company a “buy” rating in a research report on Monday, September 30th. Zacks Investment Research upgraded G1 Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, ValuEngine upgraded G1 Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $56.67.
Shares of GTHX traded up $0.72 on Friday, reaching $22.95. 181,300 shares of the stock traded hands, compared to its average volume of 260,126. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.28 and a quick ratio of 14.28. G1 Therapeutics has a 12 month low of $13.87 and a 12 month high of $42.81. The firm has a market cap of $835.44 million, a price-to-earnings ratio of -8.96 and a beta of 2.21. The stock’s 50-day moving average price is $23.21 and its 200-day moving average price is $26.56.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in G1 Therapeutics by 27.4% in the second quarter. BlackRock Inc. now owns 2,468,415 shares of the company’s stock valued at $75,681,000 after buying an additional 530,999 shares during the period. JPMorgan Chase & Co. lifted its stake in G1 Therapeutics by 27.8% in the second quarter. JPMorgan Chase & Co. now owns 1,429,138 shares of the company’s stock valued at $44,446,000 after buying an additional 310,614 shares during the period. Rhenman & Partners Asset Management AB lifted its stake in G1 Therapeutics by 95.3% in the third quarter. Rhenman & Partners Asset Management AB now owns 535,657 shares of the company’s stock valued at $12,202,000 after buying an additional 261,383 shares during the period. Tang Capital Management LLC acquired a new position in G1 Therapeutics in the second quarter valued at about $6,132,000. Finally, Nuveen Asset Management LLC acquired a new position in G1 Therapeutics in the second quarter valued at about $3,505,000. 76.70% of the stock is currently owned by institutional investors and hedge funds.
About G1 Therapeutics
G1 Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel small molecule therapeutics for the treatment of patients with cancer. It is developing trilaciclib, an intravenous cyclin-dependent kinases (CDK) 4/6 inhibitor that is in Phase Ib/II clinical trials for patients with extensive-stage small cell lung cancer, as well as Phase II clinical trial for patients with first-/second-/third-line metastatic triple-negative breast cancer; lerociclib, an oral CDK4/6 inhibitor that is in Phase Ib/IIa clinical trials for the treatment of breast cancer and in Phase Ib/II clinical trial for non-small cell lung cancer; and G1T48, an oral selective estrogen receptor degrader, which is in Phase I clinical trial.
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