Citigroup Trims Galera Therapeutics (NASDAQ:GRTX) Target Price to $12.00

Galera Therapeutics (NASDAQ:GRTX – Get Rating) had its price objective lowered by Citigroup from $18.00 to $12.00 in a research report released on Thursday morning, The Fly reports.

A number of other analysts have also recently weighed in on GRTX. HC Wainwright reaffirmed a buy rating and issued a $10.00 price objective on shares of Galera Therapeutics in a report on Thursday, February 16th. Piper Sandler initiated coverage on shares of Galera Therapeutics in a report on Tuesday, February 21st. They issued an overweight rating and a $6.00 price objective on the stock. Finally, Bank of America raised shares of Galera Therapeutics from an underperform rating to a buy rating and increased their price objective for the stock from $2.00 to $7.00 in a report on Thursday, February 16th.

Galera Therapeutics Stock Up 0.5 %

GRTX stock opened at $2.20 on Thursday. Galera Therapeutics has a fifty-two week low of $1.12 and a fifty-two week high of $2.75. The firm’s 50-day simple moving average is $2.05 and its 200 day simple moving average is $1.77.

Insider Buying and Selling at Galera Therapeutics

In related news, CEO Mel Sorensen bought 100,000 shares of the stock in a transaction on Friday, March 10th. The shares were purchased at an average price of $1.68 per share, with a total value of $168,000.00. Following the purchase, the chief executive officer now owns 332,044 shares in the company, valued at $557,833.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Galera Therapeutics

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Galera Therapeutics by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 174,924 shares of the company’s stock valued at $260,000 after purchasing an additional 9,273 shares in the last quarter. Sectoral Asset Management Inc. bought a new position in shares of Galera Therapeutics during the 4th quarter valued at about $2,483,000. Ensign Peak Advisors Inc boosted its position in shares of Galera Therapeutics by 281.6% during the 2nd quarter. Ensign Peak Advisors Inc now owns 151,777 shares of the company’s stock valued at $197,000 after purchasing an additional 112,002 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Galera Therapeutics during the 1st quarter valued at about $30,000. Finally, Renaissance Technologies LLC bought a new position in shares of Galera Therapeutics during the 1st quarter valued at about $1,045,000. Institutional investors own 36.45% of the company’s stock.

About Galera Therapeutics

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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.