G1 Therapeutics Inc (NASDAQ:GTHX) Short Interest Update

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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.

G1 Therapeutics (NASDAQ:GTHX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.01. As a group, equities research analysts forecast that G1 Therapeutics will post -3.29 earnings per share for the current fiscal year.

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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