Millennium Management LLC has recently announced that it has increased stake in G1 Therapeutics Inc (NASDAQ:GTHX) by 72.51%. After grabbing 1.05 million shares, the institutional investor is now in possession of 0.44 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 2.03% having worth around $1.73 million. Moreover, Raymond James & Associates, Inc. increased its share by 0.13 million to have a control over 0.93 million shares. And Jacobs Levy Equity Management, In raised its holdings to 80480.0 shares by acquiring 0.57 million shares or 1.11% of the stake.
G1 Therapeutics Inc (GTHX) concluded trading on 12/07/23 at a closing price of $3.18, with 10.18 million shares of worth about $32.39 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 12.37% during that period and on Thursday the price saw a gain of about 31.40%. Currently the company’s common shares owned by public are about 51.50M shares, out of which, 42.97M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the GTHX stock and their offered price forecasts bring an average price target of $8.40. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $14.00 and could fall to a lowest price of $5.00. The stock’s current price level is 62.14% above of average price target set by the analysts, while a rise to estimated low would result in gain of 36.4% for the stock. However, touching the estimated high of $14.00 would mean a gain of 77.29% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 41 times over the past 12 months. They bought 762,400 shares in 24 of the transactions. In 17 selling transactions, insiders dumped 113,714 shares.
Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Rhenman & Partners Fund – Healthc are the top 3 mutual funds which are holding stakes in G1 Therapeutics Inc Vanguard Total Stock Market ETF is currently holding 1.3 million shares of worth totaling $2.14 million. The company recently came buying 0.0 shares which brought its stake up to 2.50% of the company’s outstanding shares. Rhenman & Partners Fund – Healthc, after buying 0.33 million shares, have now control over 0.63% of the stake in the company. It holds 0.0 shares of worth $0.54 million.
G1 Therapeutics Inc (NASDAQ: GTHX) started trading at $2.39, below -$0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 3.3699, or with a gain of 31.40%. Stock saw a price change of 69.15% in past 5 days and over the past one month there was a price change of 102.55%. Year-to-date (YTD), GTHX shares are showing a performance of -41.44% which decreased to -49.84% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.08 but also hit the highest price of $8.40 during that period. The average intraday trading volume for G1 Therapeutics Inc shares is 597.11K. The stock is currently trading 87.89% above its 20-day simple moving average (SMA20), while that difference is up 112.68% for SMA50 and it goes to 40.95% higher than SMA200.
Millennium Management LLC acquired 1.05 million shares of G1 Therapeutics Inc having value of about $1.73 million. Data submitted at the U.S SEC by Millennium Management LLC revealed that the firm now holds 0.44 million shares in the company valued at close to $1402157.4, or have control over 72.51% stake in the company. G1 Therapeutics Inc (NASDAQ: GTHX) currently have 51.50M outstanding shares and institutions hold larger chunk of about 22.48% of that. Holding of mutual funds in the company is about 27.54% while other institutional holders and individual stake holders have control over 8.92% and 13.63% of the stake respectively.
The stock has a current market capitalization of $164.85M and its 3Y-monthly beta is at 1.59. It has posted earnings per share of -$1.47 in the same period. It has Quick Ratio of 3.35 while making debt-to-equity ratio of 1.30. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GTHX, volatility over the week remained 21.79% while standing at 12.13% over the month.
Analysts are in expectations that G1 Therapeutics Inc (GTHX) stock would likely to be making an EPS of -$0.27 in the current quarter, while forecast for next quarter EPS is -$0.28 and it is -$0.91 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.3 which is -$0.22 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.73 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 71.33% while it is estimated to increase by 14.52% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on January 30, 2023 offering a Neutral rating for the stock and assigned a target price range of between $7 and $10 to it.
