Galena Biopharma Inc. (NASDAQ:GALE) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 20,033,757 shares, an increase of 8.0% from the September 15th total of 18,553,287 shares. Based on an average trading volume of 4,152,431 shares, the days-to-cover ratio is currently 4.8 days. Approximately 9.4% of the company’s shares are short sold.

Shares of Galena Biopharma (NASDAQ:GALE) opened at 0.2774 on Friday. The firm’s 50-day moving average is $0.35 and its 200 day moving average is $0.99. The firm’s market cap is $59.35 million. Galena Biopharma has a 52 week low of $0.26 and a 52 week high of $2.49.

Galena Biopharma (NASDAQ:GALE) last posted its quarterly earnings data on Tuesday, August 9th. The biotechnology company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.11. During the same period last year, the company earned ($0.10) earnings per share. Equities research analysts forecast that Galena Biopharma will post ($0.12) EPS for the current year.

Several brokerages have recently weighed in on GALE. FBR & Co reissued an “outperform” rating and issued a $2.00 target price on shares of Galena Biopharma in a research note on Thursday. Zacks Investment Research raised shares of Galena Biopharma from a “hold” rating to a “buy” rating and set a $0.50 target price on the stock in a research note on Tuesday, July 12th. Raymond James Financial Inc. downgraded shares of Galena Biopharma from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 29th. Noble Financial downgraded shares of Galena Biopharma from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, S&P Equity Research reduced their price target on shares of Galena Biopharma from $0.61 to $0.50 in a research note on Friday, July 1st. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $2.26.

Large investors have recently modified their holdings of the company. Teachers Advisors Inc. increased its stake in shares of Galena Biopharma by 8.5% in the second quarter. Teachers Advisors Inc. now owns 281,597 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 22,170 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Galena Biopharma by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 649,316 shares of the biotechnology company’s stock valued at $303,000 after buying an additional 32,290 shares in the last quarter. BlackRock Investment Management LLC increased its stake in shares of Galena Biopharma by 6.9% in the second quarter. BlackRock Investment Management LLC now owns 704,955 shares of the biotechnology company’s stock valued at $329,000 after buying an additional 45,237 shares in the last quarter. State Street Corp increased its stake in shares of Galena Biopharma by 14.7% in the second quarter. State Street Corp now owns 2,753,970 shares of the biotechnology company’s stock valued at $1,284,000 after buying an additional 352,324 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Galena Biopharma by 11.2% in the first quarter. Geode Capital Management LLC now owns 1,227,715 shares of the biotechnology company’s stock valued at $1,669,000 after buying an additional 123,736 shares in the last quarter. 14.42% of the stock is owned by hedge funds and other institutional investors.

Galena Biopharma Company Profile

Galena Biopharma, Inc is a biopharmaceutical company. The Company focuses on developing and commercializing targeted oncology therapeutics that address unmet medical needs. The Company’s development portfolio ranges from mid- to late-stage clinical assets, including cancer immunotherapy program led by NeuVax (nelipepimut-S), GALE-301 and GALE-302.

5 Day Chart for NASDAQ:GALE

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