Schwab Charles Investment Management Inc. grew its stake in G1 Therapeutics Inc (NASDAQ:GTHX) by 48.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,000 shares of the company’s stock after acquiring an additional 14,100 shares during the period. Schwab Charles Investment Management Inc. owned 0.13% of G1 Therapeutics worth $1,869,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. grew its stake in G1 Therapeutics by 71.9% in the 1st quarter. BlackRock Inc. now owns 1,281,060 shares of the company’s stock worth $47,463,000 after acquiring an additional 535,615 shares in the last quarter. Bank of New York Mellon Corp grew its stake in G1 Therapeutics by 1,497.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,262,991 shares of the company’s stock worth $54,890,000 after acquiring an additional 1,183,940 shares in the last quarter. Point72 Asset Management L.P. grew its stake in G1 Therapeutics by 12.0% in the 1st quarter. Point72 Asset Management L.P. now owns 224,000 shares of the company’s stock worth $8,299,000 after acquiring an additional 24,000 shares in the last quarter. JPMorgan Chase & Co. grew its stake in G1 Therapeutics by 1,313.5% in the 1st quarter. JPMorgan Chase & Co. now owns 221,555 shares of the company’s stock worth $8,209,000 after acquiring an additional 205,881 shares in the last quarter. Finally, Northern Trust Corp grew its stake in G1 Therapeutics by 87.8% in the 1st quarter. Northern Trust Corp now owns 156,437 shares of the company’s stock worth $5,796,000 after acquiring an additional 73,149 shares in the last quarter. Institutional investors and hedge funds own 69.17% of the company’s stock.
In other news, VP Jennifer K. Moses sold 750 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $50.79, for a total value of $38,092.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jay Strum sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $59.60, for a total transaction of $596,000.00. The disclosure for this sale can be found here. Insiders sold a total of 66,583 shares of company stock valued at $3,617,196 in the last ninety days. Corporate insiders own 15.92% of the company’s stock.
Shares of GTHX opened at $42.98 on Friday. G1 Therapeutics Inc has a fifty-two week low of $18.03 and a fifty-two week high of $69.57. The company has a market capitalization of $1.75 billion, a PE ratio of -12.04 and a beta of -1.02.
G1 Therapeutics (NASDAQ:GTHX) last announced its quarterly earnings results on Wednesday, August 8th. The company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.01. As a group, research analysts expect that G1 Therapeutics Inc will post -2.68 earnings per share for the current fiscal year.
GTHX has been the topic of a number of research analyst reports. BidaskClub downgraded shares of G1 Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 19th. Needham & Company LLC upped their target price on shares of G1 Therapeutics to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, September 18th. HC Wainwright restated a “buy” rating and issued a $79.00 target price on shares of G1 Therapeutics in a research note on Monday, September 17th. BTIG Research assumed coverage on shares of G1 Therapeutics in a research note on Monday, September 10th. They issued a “buy” rating and a $80.00 target price on the stock. Finally, Cowen reaffirmed a “buy” rating on shares of G1 Therapeutics in a research report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $74.50.
About G1 Therapeutics
G1 Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel small molecule therapeutics for the treatment of patients with cancer in the United States. It is developing trilaciclib, an intravenous cyclin-dependent kinases (CDK) 4/6 inhibitor that is in Phase 1b/2a clinical trials for patients with small cell lung cancer, as well as Phase 2 clinical trial for patients with first-/second-/third-line metastatic triple-negative breast cancer; G1T38, an oral CDK4/6 inhibitor that is Phase 1b/2a clinical trials for the treatment of breast cancer; and G1T48, an oral selective estrogen receptor degrader, which is in preclinical development.
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