Zacks Investment Research Lowers G1 Therapeutics (NASDAQ:GTHX) to Hold

G1 Therapeutics (NASDAQ:GTHX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “G1 Therapeutics, Inc. is a clinical-stage biopharmaceutical company. It engaged in developing novel, small-molecule therapies which address significant unmet needs in the treatment of cancer. The company’s product pipeline consists of CDK4/6, Trilaciclib (G1T28), G1T38 and G1T48. G1 Therapeutics, Inc. is based in Research Triangle Park, NC. “

Several other research firms have also commented on GTHX. BidaskClub lowered G1 Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, January 7th. Raymond James lowered G1 Therapeutics from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $66.00 to $21.00 in a report on Tuesday, November 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $82.00 price target on shares of G1 Therapeutics in a report on Monday, October 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. G1 Therapeutics has a consensus rating of “Buy” and a consensus target price of $45.86.

GTHX stock traded down $0.44 during midday trading on Wednesday, reaching $19.52. The stock had a trading volume of 1,059,108 shares, compared to its average volume of 1,168,812. The company’s fifty day simple moving average is $18.27 and its 200 day simple moving average is $16.02. The company has a current ratio of 7.45, a quick ratio of 7.45 and a debt-to-equity ratio of 0.10. The company has a market cap of $742.66 million, a price-to-earnings ratio of -6.73 and a beta of 2.47. G1 Therapeutics has a 52-week low of $8.80 and a 52-week high of $26.69.

G1 Therapeutics (NASDAQ:GTHX) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.06). The firm had revenue of $26.60 million during the quarter, compared to analyst estimates of $40.00 million. Sell-side analysts predict that G1 Therapeutics will post -2.79 EPS for the current year.

In related news, SVP Rajesh Malik sold 9,000 shares of the firm’s stock in a transaction dated Thursday, December 10th. The stock was sold at an average price of $20.06, for a total transaction of $180,540.00. Following the completion of the sale, the senior vice president now directly owns 38,200 shares of the company’s stock, valued at approximately $766,292. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Seth Rudnick sold 13,161 shares of the firm’s stock in a transaction dated Tuesday, December 8th. The stock was sold at an average price of $20.19, for a total value of $265,720.59. The disclosure for this sale can be found here. Insiders have sold a total of 83,125 shares of company stock valued at $1,652,141 over the last three months. Corporate insiders own 15.92% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its position in shares of G1 Therapeutics by 0.3% during the second quarter. FMR LLC now owns 5,660,589 shares of the company’s stock worth $137,326,000 after buying an additional 14,260 shares in the last quarter. State Street Corp lifted its stake in G1 Therapeutics by 73.8% during the third quarter. State Street Corp now owns 2,365,259 shares of the company’s stock worth $27,319,000 after purchasing an additional 1,004,346 shares during the last quarter. Vanguard Group Inc. lifted its stake in G1 Therapeutics by 0.4% during the second quarter. Vanguard Group Inc. now owns 2,057,211 shares of the company’s stock worth $49,908,000 after purchasing an additional 8,124 shares during the last quarter. Federated Hermes Inc. lifted its stake in G1 Therapeutics by 123.7% during the third quarter. Federated Hermes Inc. now owns 423,211 shares of the company’s stock worth $4,888,000 after purchasing an additional 234,045 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in G1 Therapeutics by 1.5% during the second quarter. Bank of America Corp DE now owns 266,549 shares of the company’s stock worth $6,466,000 after purchasing an additional 3,972 shares during the last quarter. 66.38% of the stock is owned by institutional investors.

About G1 Therapeutics

G1 Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of 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 1b/2 clinical trials for patients with extensive-stage small cell lung cancer(SCLC), as well as Phase 2 clinical trial for patients with first-line (SCLC) and metastatic triple-negative breast cancer; lerociclib, an oral CDK4/6 inhibitor that is in Phase 1b/2a clinical trials for the treatment of breast cancer and in Phase 1b clinical trial for non-small cell lung cancer; and rintodestrant, an oral selective estrogen receptor degrader, which is in Phase I/2 clinical trial.

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