Gelesis (NYSE:GLS) Coverage Initiated by Analysts at Citigroup

Citigroup assumed coverage on shares of Gelesis (NYSE:GLSGet Rating) in a report released on Tuesday, The Fly reports. The firm issued a neutral rating and a $1.15 target price on the stock.

Gelesis Stock Performance

NYSE:GLS opened at $1.12 on Tuesday. The stock has a fifty day moving average price of $1.33 and a two-hundred day moving average price of $3.05. The company has a current ratio of 0.89, a quick ratio of 0.62 and a debt-to-equity ratio of 5.89. Gelesis has a 1 year low of $1.01 and a 1 year high of $12.23.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Northeast Financial Consultants Inc acquired a new stake in shares of Gelesis during the first quarter valued at $158,000. Vanguard Group Inc. acquired a new stake in shares of Gelesis during the first quarter valued at $1,809,000. BlackRock Inc. acquired a new stake in shares of Gelesis during the first quarter valued at $1,284,000. Beacon Pointe Advisors LLC acquired a new stake in shares of Gelesis during the first quarter valued at $540,000. Finally, State Street Corp acquired a new stake in shares of Gelesis during the first quarter valued at $250,000. Hedge funds and other institutional investors own 13.35% of the company’s stock.

Gelesis Company Profile

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Gelesis Holdings Inc, a commercial stage biotherapeutics company, developing a biomimicry to treat the genesis of obesity and GI-related chronic diseases. The company also provides PLENITY, an orally administered, non-stimulant, and non-systemic aid for weight management. In addition, it offers a product for obesity and overweight and a pipeline with potential therapies for non-alcoholic fatty liver disease/non-alcoholic steatohepatitis, type 2 diabetes, and GS500 for Functional Constipation.

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