Galera Therapeutics (NASDAQ:GRTX) Issues Quarterly Earnings Results

Galera Therapeutics (NASDAQ:GRTX – Get Rating) announced its earnings results on Monday. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.02, MarketWatch Earnings reports.

Shares of Galera Therapeutics stock opened at $1.71 on Tuesday. Galera Therapeutics has a one year low of $1.15 and a one year high of $10.79. The business has a 50-day simple moving average of $2.07 and a 200-day simple moving average of $2.36.

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in Galera Therapeutics in the first quarter valued at approximately $1,045,000. BlackRock Inc. boosted its holdings in Galera Therapeutics by 86.8% in the first quarter. BlackRock Inc. now owns 321,292 shares of the company’s stock valued at $765,000 after purchasing an additional 149,253 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Galera Therapeutics by 89.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 22,149 shares of the company’s stock valued at $102,000 after purchasing an additional 10,428 shares in the last quarter. Millennium Management LLC boosted its holdings in Galera Therapeutics by 313.7% in the fourth quarter. Millennium Management LLC now owns 154,438 shares of the company’s stock valued at $709,000 after purchasing an additional 117,110 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Galera Therapeutics in the fourth quarter valued at approximately $142,000. 41.92% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research upgraded shares of Galera Therapeutics from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a report on Wednesday, March 16th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $9.85.

Galera Therapeutics Company Profile (Get Rating)

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 superoxide 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.

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