Gelesis (NYSE:GLS) Trading Down 9.9%

Gelesis Holdings, Inc. (NYSE:GLS – Get Rating)’s share price dropped 9.9% on Thursday . The stock traded as low as $0.23 and last traded at $0.23. Approximately 115,724 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 217,643 shares. The stock had previously closed at $0.26.

Gelesis Stock Performance

The company’s 50-day simple moving average is $0.32 and its 200-day simple moving average is $0.56. The company has a current ratio of 0.69, a quick ratio of 0.45 and a debt-to-equity ratio of 5.89.

Institutional Investors Weigh In On Gelesis

A number of large investors have recently bought and sold shares of GLS. State Street Corp bought a new position in Gelesis during the 1st quarter worth approximately $250,000. Northern Trust Corp purchased a new position in Gelesis during the 1st quarter worth $180,000. Goldman Sachs Group Inc. purchased a new position in Gelesis during the 1st quarter worth $103,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Gelesis during the 1st quarter worth $76,000. Finally, Virtu Financial LLC bought a new stake in shares of Gelesis during the 1st quarter worth $73,000. 16.71% of the stock is currently owned by institutional investors and hedge funds.

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.