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. Galera Therapeutics Inc. shares valued at $24,717 were purchased by Bachleda Mark on Mar 16. At $2.25 per share, Bachleda Mark acquired 11,000 shares. The insider’s holdings grew to 11,000 shares worth approximately $32450.000000000004 following the completion of this transaction.
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Also, Degnan Chris purchased 10,000 shares, netting a total of over 19,593 in proceeds. Following the buying of shares at $1.96 each, the insider now holds 10,000 shares.
Before that, Sorensen Mel had added 100,000 shares to its account. In a trade valued at $168,120, the President and CEO bought Galera Therapeutics Inc. shares for $1.68 each. Upon closing the transaction, the insider’s holdings increased to 100,000 shares, worth approximately $0.98 million.
Analyzing GRTX Stock Performance
On Thursday, Galera Therapeutics Inc. [NASDAQ: GRTX] plunged -5.75% to $2.95. The stock’s lowest price that day was $2.86, but it reached a high of $3.13 in the same session. During the last five days, there has been a drop of approximately -1.99%. Over the course of the year, Galera Therapeutics Inc. shares have jumped approximately 97.99%. Shares of the company reached a 52-week high of $3.50 on 05/08/23 and a 52-week low of $1.45 on 01/04/23. A 50-day SMA is recorded $2.78, while a 200-day SMA reached $1.99. Nevertheless, trading volume fell to 0.87 million shares from 0.33 million shares the previous day.
Support And Resistance Levels for Galera Therapeutics Inc. (GRTX)
According to the 24-hour chart, there is a support level at 2.83, which, if violated, would cause prices to drop to 2.71. In the upper region, resistance lies at 3.10. The next price resistance is at 3.25. RSI (Relative Strength Index) is 47.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.05, which suggests the price will decrease in the coming days. Percent R is at 85.94%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Galera Therapeutics Inc. subject to short interest?
Stocks of Galera Therapeutics Inc. saw a sharp steep in short interest on May 14, 2023 dropping by -0.24 million shares to 0.83 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 1.07 million shares. A decline of -29.4% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.47 of the overall float, the days-to-cover ratio (short ratio) decline to 1.47.
Which companies own the most shares of Galera Therapeutics Inc. (GRTX)?
According to Sectoral Asset Management, Inc. filings, the company currently owns 2,098,565 shares, which is about 4.90% of the total GRTX shares outstanding. The investor’s shares have appreciated by 431,899 from its previous 13-F filing of 1666666.0 shares. The Vanguard Group, Inc. acquire a 105.74% interest valued at $2.91 million while Velan Capital Investment Manageme 1,000,000 stake. In its current portfolio, Parkman Healthcare Partners LLC holds 525,000 shares valued at $1.43 million.
In terms of Galera Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $9.20 in the next 12 months, up nearly 123.64% from the previous closing price of $3.13. Analysts anticipate Galera Therapeutics Inc. stock to reach $15.00 by 2023, with the lowest price target being $6.00. In spite of this, 5 analysts ranked Galera Therapeutics Inc. stock as a Buy at the end of 2023.