Gemini Therapeutics, Inc. (NASDAQ:GMTX – Get Rating)'s stock price dropped 6.4% during mid-day trading on Thursday . The company traded as low as $1.52 and last traded at $1.55. Approximately 51,834 shares traded hands during trading, a decline of 72% from the average daily volume of 182,922 shares. The stock had previously closed at $1.65.
Gemini Therapeutics Trading Up 0.6 %
The company has a market cap of $67.38 million, a PE ratio of -1.56 and a beta of -0.12. The business has a fifty day moving average of $1.71 and a 200-day moving average of $1.61.
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Insider Activity at Gemini Therapeutics
In related news, major shareholder Braden Michael Leonard sold 22,500 shares of the business's stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $2.09, for a total transaction of $47,025.00. Following the transaction, the insider now owns 247,500 shares in the company, valued at approximately $517,275. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.90% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. MYDA Advisors LLC grew its holdings in shares of Gemini Therapeutics by 215.0% during the 3rd quarter. MYDA Advisors LLC now owns 63,000 shares of the company's stock worth $103,000 after acquiring an additional 43,000 shares during the period. Nantahala Capital Management LLC purchased a new position in shares of Gemini Therapeutics during the 3rd quarter worth approximately $423,000. ExodusPoint Capital Management LP purchased a new position in shares of Gemini Therapeutics during the 3rd quarter worth approximately $85,000. Assenagon Asset Management S.A. grew its holdings in shares of Gemini Therapeutics by 423.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 82,171 shares of the company's stock worth $135,000 after acquiring an additional 66,467 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Gemini Therapeutics by 80.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 36,635 shares of the company's stock worth $62,000 after acquiring an additional 16,297 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.
About Gemini Therapeutics
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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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