Short Interest in Galera Therapeutics, Inc. (NASDAQ:GRTX) Increases By 50.3%

Galera Therapeutics, Inc. (NASDAQ:GRTX) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 2,660,000 shares, a growth of 50.3% from the March 31st total of 1,770,000 shares. Approximately 6.5% of the shares of the company are sold short. Based on an average daily volume of 1,950,000 shares, the days-to-cover ratio is currently 1.4 days.

Galera Therapeutics Stock Performance

Shares of GRTX stock remained flat at $0.18 during midday trading on Monday. The company’s stock had a trading volume of 351,464 shares, compared to its average volume of 2,321,511. The stock has a 50-day simple moving average of $0.20 and a 200 day simple moving average of $0.17. Galera Therapeutics has a one year low of $0.09 and a one year high of $3.59. The firm has a market capitalization of $9.93 million, a PE ratio of -0.13 and a beta of 2.17.

Galera Therapeutics (NASDAQ:GRTX) last announced its earnings results on Thursday, March 28th. The company reported ($0.10) earnings per share for the quarter.

Institutional Trading of Galera Therapeutics

A hedge fund recently bought a new stake in Galera Therapeutics stock. abrdn plc purchased a new stake in Galera Therapeutics, Inc. (NASDAQ:GRTX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 898,374 shares of the company’s stock, valued at approximately $131,000. abrdn plc owned 1.65% of Galera Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 50.77% of the company’s stock.

About Galera Therapeutics

Galera Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for the transformation of radiotherapy in cancer. The company's lead product candidate is avasopasem manganese (GC4419), a small molecule dismutase mimetic, which has completed Phase III clinical trial for the treatment of radiotherapy induced severe oral mucositis in patients with head and neck cancer (HNC); in Phase IIa clinical trial for the treatment of radiotherapy-induced esophagitis in patients with lung cancer; and in Phase IIa clinical trial for patients with HNC undergoing standard-of-care radiotherapy.