Short Interest in Galera Therapeutics, Inc. (NASDAQ:GRTX) Increases By 50.3%

Galera Therapeutics, Inc. (NASDAQ:GRTX) saw a significant growth in short interest in 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 short-interest ratio is presently 1.4 days.

Institutional Investors Weigh In On Galera Therapeutics

A hedge fund recently bought a new stake in Galera Therapeutics stock. abrdn plc bought a new position in shares of Galera Therapeutics, Inc. (NASDAQ:GRTX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 898,374 shares of the company’s stock, valued at approximately $131,000. abrdn plc owned approximately 1.65% of Galera Therapeutics as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 50.77% of the company’s stock.

Galera Therapeutics Stock Down 1.9 %

Shares of NASDAQ:GRTX traded down $0.00 during mid-day trading on Monday, reaching $0.18. 349,957 shares of the stock were exchanged, compared to its average volume of 2,321,509. The stock’s 50 day simple moving average is $0.20 and its 200-day simple moving average is $0.17. Galera Therapeutics has a one year low of $0.09 and a one year high of $3.59.

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.

About Galera Therapeutics

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.