Galera Therapeutics, Inc. (NASDAQ:GRTX) Sees Significant Growth in Short Interest

Galera Therapeutics, Inc. (NASDAQ:GRTX) was the target of a large growth in short interest in 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. Currently, 6.5% of the company’s stock are sold short. Based on an average trading volume of 1,950,000 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Galera Therapeutics stock. abrdn plc bought a new stake in Galera Therapeutics, Inc. (NASDAQ:GRTX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 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. 50.77% of the stock is owned by institutional investors.

Galera Therapeutics Stock Performance

Galera Therapeutics stock traded down $0.02 during trading hours on Friday, reaching $0.19. The stock had a trading volume of 2,268,564 shares, compared to its average volume of 2,907,459. Galera Therapeutics has a 52 week low of $0.09 and a 52 week high of $3.59. The business’s 50 day moving average price is $0.20 and its 200-day moving average price is $0.17.

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

Galera Therapeutics Company Profile

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.