Millennium Management LLC recently announced the acquisition of new stake in G1 Therapeutics Inc (NASDAQ:GTHX). The institutional investor has increased its shareholding in the Healthcare company by 72.51% to 1.05 million shares with purchase of 0.44 million shares. This fresh investment now brings its stake to 2.03% valued currently at $1.73 million. In addition, Raymond James & Associates, Inc. raised its holdings by 0.13 million to 0.93 million shares. And Jacobs Levy Equity Management, In has lifted its position by 16.33% or 80480.0 shares – to 0.57 million shares.
With over 6.03 million G1 Therapeutics Inc (GTHX) shares trading Monday and a closing price of $3.49 on the day, the dollar volume was approximately $21.03 million. The shares have shown a positive half year performance of 28.78% and its price on 12/11/23 gained nearly 11.15%. Currently, there are 51.50M common shares owned by the public and among those 42.97M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for GTHX have a consensus price objective of $8.40. The analysts have set the share’s price value over the next 12 months at a high of $14.00 and a low of $5.00. The average price target is 58.45% above its recent price level and an upside to the estimated low will see the stock gain 30.2% over that period. But an upside of 75.07% will see the stock hit the forecast high price target while median target price for the stock is $8.00.
Insiders at the company have transacted a total of 41 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 762,400 shares. Insider sales of the common stock occurred on 17 occasions, with total insider shares sold totaling 113,714 shares.
The top 3 mutual fund holders in G1 Therapeutics Inc are Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Rhenman & Partners Fund – Healthc. Vanguard Total Stock Market ETF owns 1.3 million shares of the company’s stock, all valued at over $2.14 million. Rhenman & Partners Fund – Healthc now owns shares totaling to 0.63% of the shares outstanding.
Shares of G1 Therapeutics Inc (NASDAQ: GTHX) opened at $3.07, down -$0.07 from a prior closing price of $3.14. However, the script later moved the day high at 4.0360, up 11.15%. The company’s stock has a 5-day price change of 74.50% and 111.52% over the past three months. GTHX shares are trading -35.73% year to date (YTD), with the 12-month market performance down to -46.88% lower. It has a 12-month low price of $1.08 and touched a high of $8.40 over the same period. GTHX has an average intraday trading volume of 800.45K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 86.78%, 122.52%, and 55.06% respectively.
Institutional ownership of G1 Therapeutics Inc (NASDAQ: GTHX) shares accounts for 22.47% of the company’s 51.50M shares outstanding. Mutual fund holders own 27.54%, while other institutional holders and individual stakeholders account for 8.85% and 13.70% respectively.
It has a market capitalization of $180.92M and a beta (3y monthly) value of 1.60. The earnings-per-share (ttm) stands at -$1.47. Price movements for the stock have been influenced by the stock’s volatility, which stands at 28.38% over the week and 13.29% over the month.
Analysts forecast that G1 Therapeutics Inc (GTHX) will achieve an EPS of -$0.27 for the current quarter, -$0.28 for the next quarter and -$0.91 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.3 while analysts give the company a high EPS estimate of -$0.22. Comparatively, EPS for the current quarter was -$0.73 a year ago. Earnings per share for the fiscal year are expected to increase by 71.33%, and 14.52% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate G1 Therapeutics Inc (GTHX) as a “Strong Buy” at a consensus score of 1.71. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 7 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the GTHX, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on January 30, 2023, with the firm’s price target at $7-$10.
