Galera Therapeutics Inc (NASDAQ:GRTX) finished Thursday with a subtraction of $0.0 to close at $0.18, an upside of 1.23 percent. An average of 2,618,660 shares of common stock have been traded in the last five days. There was a gain of $0.0060 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 3,784,580 shares traded, while the 50-day average volume stands at 4,127,650.
GRTX stock has decreased by -13.77% in the last month. The company shares reached their 1-month lowest point of $0.1653 on 09/25/23. With the stock rallying to its 52-week high on 06/13/23, shares of the company touched a low of $0.17 and a high of $3.59 in 52 weeks. It has reached a new high 15 times so far this year and lost -87.89% or -$1.3096 in price. In spite of this, the price is down -94.97% from the 52-week high.
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Financial Health
The quick ratio of Galera Therapeutics Inc for the three months ended June 29 was 3.08, and the current ratio was 3.08, indicating that the company is able to meet its debt obligations. Its gross profit as reported stood at $11.57 million compared to revenue of $51.23 million.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$20.71 million in the quarter, while revenues of -$17.71 million were grew 29.7%. The analyst consensus anticipated Galera Therapeutics Inc’s latest quarter earnings to come in at -$0.38 per share, but it turned out to be -$0.48, a -26.30% surprise. For the quarter, EBITDA amounted to -$16.8 million. Shareholders own equity worth $43.93 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Galera Therapeutics Inc (GRTX) price momentum. RSI 9-day as of the close on 28 September was 25.91%, suggesting the stock is oversold, with historical volatility in this time frame at 79.64%.
As of today, GRTX’s price is $0.1784 +3.44% or $0.0060 from its 5-day moving average. GRTX is currently trading -14.62% lower than its 20-day SMA and -94.45% lower than its 100-day SMA. However, the stock’s current price level is -93.76% below the SMA50 and -89.13% below the SMA200.
The stochastic %K and %D were 22.03% and 18.51%, respectively, and the average true range (ATR) was 0.0223. With the 14-day stochastic at 21.98% and the average true range at 0.0409, the RSI (14) stands at 20.41%. The stock has reached -0.0031 on the 9-day MACD Oscillator while the 14-day reading was at -0.0067.
Analyst Ratings
Piper Sandler downgraded Galera Therapeutics Inc (NASDAQ: GRTX) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Overweight. The consensus rating for Galera Therapeutics Inc (GRTX) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell GRTX, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.
What is GRTX’s price target for the next 12 months?
Analysts predict a range of price targets between $0.25 and $0.50, with a median target of $0.30. Taking a look at these predictions, the average price target given by analysts for Galera Therapeutics Inc (GRTX) stock is $0.35.
