Tang Capital Management LLC bought a new position in shares of G1 Therapeutics Inc (NASDAQ:GTHX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 200,000 shares of the company’s stock, valued at approximately $6,132,000. G1 Therapeutics makes up about 0.8% of Tang Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. Tang Capital Management LLC owned 0.53% of G1 Therapeutics at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in G1 Therapeutics by 8.7% in the first quarter. JPMorgan Chase & Co. now owns 1,118,524 shares of the company’s stock valued at $18,568,000 after acquiring an additional 89,450 shares in the last quarter. Rhumbline Advisers boosted its stake in G1 Therapeutics by 5.6% in the first quarter. Rhumbline Advisers now owns 29,815 shares of the company’s stock valued at $495,000 after acquiring an additional 1,569 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in G1 Therapeutics in the first quarter valued at $98,000. FMR LLC boosted its stake in G1 Therapeutics by 0.6% in the first quarter. FMR LLC now owns 5,611,235 shares of the company’s stock valued at $93,147,000 after acquiring an additional 33,481 shares in the last quarter. Finally, Abbot Financial Management Inc. acquired a new position in G1 Therapeutics in the second quarter valued at $262,000. Hedge funds and other institutional investors own 74.88% of the company’s stock.
GTHX has been the subject of several research analyst reports. BidaskClub downgraded shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday. Cowen restated a “buy” rating on shares of G1 Therapeutics in a research note on Friday, September 13th. JPMorgan Chase & Co. upgraded shares of G1 Therapeutics from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $38.00 to $45.00 in a research note on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $72.00 price objective on shares of G1 Therapeutics in a research note on Wednesday, September 11th. Finally, ValuEngine upgraded shares of G1 Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. G1 Therapeutics currently has an average rating of “Buy” and a consensus target price of $56.67.
Shares of GTHX traded down $0.01 during mid-day trading on Thursday, hitting $35.54. 21,417 shares of the company’s stock were exchanged, compared to its average volume of 318,283. G1 Therapeutics Inc has a fifty-two week low of $13.87 and a fifty-two week high of $60.47. The firm has a market capitalization of $1.36 billion, a P/E ratio of -13.89 and a beta of 2.35. The business’s 50 day moving average is $33.74 and its two-hundred day moving average is $24.45.
G1 Therapeutics (NASDAQ:GTHX) last announced its earnings results on Wednesday, August 7th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.09). On average, analysts expect that G1 Therapeutics Inc will post -3.26 earnings per share for the current year.
G1 Therapeutics Profile
G1 Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel small molecule therapeutics for the treatment of patients with cancer. It is developing trilaciclib, an intravenous cyclin-dependent kinases (CDK) 4/6 inhibitor that is in Phase Ib/II clinical trials for patients with extensive-stage small cell lung cancer, as well as Phase II clinical trial for patients with first-/second-/third-line metastatic triple-negative breast cancer; lerociclib, an oral CDK4/6 inhibitor that is in Phase Ib/IIa clinical trials for the treatment of breast cancer and in Phase Ib/II clinical trial for non-small cell lung cancer; and G1T48, an oral selective estrogen receptor degrader, which is in Phase I clinical trial.
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