Insider Selling: Velleca Mark A., G1 Therapeutics Inc. [GTHX] Director divested 20,000 shares

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. G1 Therapeutics Inc. shares valued at $270,044 were sold by Velleca Mark A. on Sep 20. At $13.50 per share, Velleca Mark A. sold 20,000 shares. The insider’s holdings dropped to 116,000 shares worth approximately $1.48 million following the completion of this transaction.

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Also, Malik Rajesh sold 18,000 shares, netting a total of over 282,746 in proceeds. Following the sale of shares at $15.71 each, the insider now holds 73,207 shares.

Before that, Velleca Mark A. had sold 80,000 shares from its account. In a trade valued at $1,010,904, the Director traded G1 Therapeutics Inc. shares for $12.64 each. Upon closing the transaction, the insider’s holdings decreased to 80,000 shares, worth approximately $1.48 million.

As published in a research note from JP Morgan on November 04, 2021, G1 Therapeutics Inc. [GTHX] has been rated down from a Neutral to an Underweight and the price target has been revised to $19 from $20. This represents a 32.79% premium over Thursday’s closing price. As of September 30, 2021, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for GTHX. Earlier on November 17, 2020, Raymond James downgraded its rating. Their new recommendation was “an Outperform” for GTHX stock which previously was a “a Strong buy”.

Analyzing GTHX’s Price Performance

On Thursday, G1 Therapeutics Inc. [NASDAQ: GTHX] plunged -1.24% to $12.77. The stock’s lowest price that day was $11.90, but it reached a high of $13.20 in the same session. During the last five days, there has been a drop of approximately -17.35%. Over the course of the year, G1 Therapeutics Inc. shares have jumped approximately 25.07%. Shares of the company reached a 52-week high of $17.49 on 09/14/22 and a 52-week low of $3.84 on 06/16/22. A 50-day SMA is recorded $12.14, while a 200-day SMA reached $8.91. Nevertheless, trading volume fell to 1.39 million shares from 1.04 million shares the previous day.

Support And Resistance Levels for G1 Therapeutics Inc. (GTHX)

According to the 24-hour chart, there is a support level at 12.05, which, if violated, would cause prices to drop to 11.32. In the upper region, resistance lies at 13.35. The next price resistance is at 13.92. RSI (Relative Strength Index) is 43.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.68, which suggests the price will decrease in the coming days. Percent R is at 84.44%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is G1 Therapeutics Inc. subject to short interest?

Stocks of G1 Therapeutics Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.98 million shares to 4.77 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.75 million shares. A decline of -62.47% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.26 of the overall float, the days-to-cover ratio (short ratio) decline to 3.26.

Which companies own the most shares of G1 Therapeutics Inc. (GTHX)?

According to Fisher Asset Management LLC filings, the company currently owns 2,308,555 shares, which is about 5.40% of the total GTHX shares outstanding. The investor’s shares have plunged by -2,583 from its previous 13-F filing of 2311138.0 shares. JPMorgan Investment Management, I acquire a 2.85% interest valued at $25.83 million while The Vanguard Group, Inc. sold a -242,172 stake. A total of -1,691,875 shares of G1 Therapeutics Inc. were sold by BlackRock Fund Advisors during the quarter, and 278,600 were bought by CHI Advisors LLC. In its current portfolio, Millennium Management LLC holds 728,120 shares valued at $10.57 million.


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