Gemini Therapeutics, Inc. (NASDAQ:GMTX) Major Shareholder Braden Michael Leonard Acquires 504,487 Shares

Gemini Therapeutics, Inc. (NASDAQ:GMTXGet Rating) major shareholder Braden Michael Leonard purchased 504,487 shares of the company’s stock in a transaction that occurred on Monday, April 11th. The stock was bought at an average cost of $1.35 per share, with a total value of $681,057.45. Following the purchase, the insider now owns 4,604,487 shares of the company’s stock, valued at $6,216,057.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Wednesday, April 13th, Braden Michael Leonard bought 191,769 shares of Gemini Therapeutics stock. The shares were acquired at an average cost of $1.52 per share, with a total value of $291,488.88.

Shares of NASDAQ:GMTX traded up $0.17 during midday trading on Wednesday, hitting $1.59. 641,428 shares of the stock were exchanged, compared to its average volume of 307,907. The firm has a market cap of $68.70 million, a PE ratio of -0.88 and a beta of 1.46. The business’s 50-day simple moving average is $1.51. Gemini Therapeutics, Inc. has a 12 month low of $1.16 and a 12 month high of $12.95.

Gemini Therapeutics (NASDAQ:GMTXGet Rating) last released its quarterly earnings results on Thursday, March 10th. The company reported ($0.41) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.09. Sell-side analysts expect that Gemini Therapeutics, Inc. will post -0.6 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in Gemini Therapeutics in the fourth quarter valued at approximately $35,000. Squarepoint Ops LLC bought a new stake in Gemini Therapeutics in the fourth quarter valued at approximately $43,000. Allspring Global Investments Holdings LLC bought a new stake in Gemini Therapeutics in the fourth quarter valued at approximately $47,000. SG Americas Securities LLC bought a new stake in Gemini Therapeutics in the third quarter valued at approximately $49,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in Gemini Therapeutics in the fourth quarter valued at approximately $56,000. Institutional investors and hedge funds own 58.97% of the company’s stock.

Several research analysts have commented on the company. HC Wainwright downgraded Gemini Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $5.00 to $2.00 in a research note on Friday, March 11th. SVB Leerink downgraded Gemini Therapeutics from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $10.00 to $2.00 in a research note on Thursday, March 3rd. Zacks Investment Research raised Gemini Therapeutics from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research note on Monday, March 7th. Finally, Jefferies Financial Group downgraded Gemini Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $23.00 to $1.50 in a research note on Tuesday, March 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $6.00.

About Gemini Therapeutics (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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