Gemini Therapeutics, Inc. (NASDAQ:GMTX) Major Shareholder Acquires $291,488.88 in Stock

Gemini Therapeutics, Inc. (NASDAQ:GMTXGet Rating) major shareholder Braden Michael Leonard acquired 191,769 shares of the firm’s stock in a transaction on Wednesday, April 13th. The stock was purchased at an average price of $1.52 per share, for a total transaction of $291,488.88. Following the completion of the transaction, the insider now directly owns 5,000,000 shares in the company, valued at approximately $7,600,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Braden Michael Leonard also recently made the following trade(s):

  • On Monday, April 11th, Braden Michael Leonard purchased 504,487 shares of Gemini Therapeutics stock. The stock was bought at an average price of $1.35 per share, for a total transaction of $681,057.45.

Gemini Therapeutics stock traded up $0.17 during mid-day trading on Wednesday, hitting $1.59. 641,428 shares of the company’s stock were exchanged, compared to its average volume of 307,907. The firm has a market capitalization of $68.70 million, a price-to-earnings ratio of -0.88 and a beta of 1.46. Gemini Therapeutics, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $12.95. The company has a 50 day moving average price of $1.51.

Gemini Therapeutics (NASDAQ:GMTXGet Rating) last issued its quarterly earnings data on Thursday, March 10th. The company reported ($0.41) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.09. On average, equities research analysts expect that Gemini Therapeutics, Inc. will post -0.6 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GMTX. Foresite Capital Opportunity Management V LLC acquired a new stake in shares of Gemini Therapeutics in the 4th quarter valued at about $7,086,000. Franklin Resources Inc. raised its stake in shares of Gemini Therapeutics by 56.5% in the 3rd quarter. Franklin Resources Inc. now owns 2,512,773 shares of the company’s stock valued at $10,152,000 after purchasing an additional 907,173 shares during the period. Pura Vida Investments LLC acquired a new stake in shares of Gemini Therapeutics in the 3rd quarter valued at about $1,997,000. Asymmetry Capital Management L.P. acquired a new stake in shares of Gemini Therapeutics in the 3rd quarter valued at about $1,148,000. Finally, Suvretta Capital Management LLC raised its stake in shares of Gemini Therapeutics by 11.0% in the 4th quarter. Suvretta Capital Management LLC now owns 2,372,267 shares of the company’s stock valued at $6,903,000 after purchasing an additional 234,444 shares during the period. 58.97% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on GMTX shares. Zacks Investment Research upgraded Gemini Therapeutics from a “hold” rating to a “buy” rating and set a $1.50 price target on the stock in a research report on Monday, March 7th. HC Wainwright lowered Gemini Therapeutics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $5.00 to $2.00 in a research report on Friday, March 11th. SVB Leerink lowered Gemini Therapeutics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $10.00 to $2.00 in a research report on Thursday, March 3rd. Finally, Jefferies Financial Group lowered Gemini Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $23.00 to $1.50 in a research report on Tuesday, March 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $6.00.

Gemini Therapeutics Company Profile (Get Rating)

Gemini Therapeutics, Inc, a clinical stage precision medicine company, engages in developing various therapeutic compounds for treating genetically defined age-related macular degeneration (AMD). Its lead candidate is GEM103, a recombinant form of the human complement factor H protein to treat dry AMD patients.

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