Galena Biopharma Inc. (NASDAQ:GALE) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 22,167,595 shares, an increase of 8.8% from the October 14th total of 20,378,713 shares. Currently, 10.4% of the shares of the company are short sold. Based on an average trading volume of 3,334,634 shares, the short-interest ratio is currently 6.6 days.

Galena Biopharma (NASDAQ:GALE) opened at 3.36 on Friday. The firm’s 50-day moving average is $0.63 and its 200 day moving average is $0.87. The firm’s market capitalization is $729.18 million. Galena Biopharma has a 12 month low of $0.16 and a 12 month high of $4.00.

Galena Biopharma (NASDAQ:GALE) last posted its quarterly earnings data on Wednesday, November 9th. The biotechnology company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. On average, analysts expect that Galena Biopharma will post ($2.70) EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on GALE shares. S&P Equity Research reduced their price objective on Galena Biopharma from $0.39 to $0.34 in a report on Tuesday, September 20th. Maxim Group set a $1.00 price objective on Galena Biopharma and gave the stock a “buy” rating in a report on Monday, October 10th. Zacks Investment Research upgraded Galena Biopharma from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Monday. Finally, FBR & Co reiterated an “outperform” rating and issued a $2.00 price target on shares of Galena Biopharma in a research note on Tuesday, August 16th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Galena Biopharma presently has an average rating of “Buy” and an average price target of $2.73.

Large investors have recently bought and sold shares of the stock. Teachers Advisors Inc. raised its stake in 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 during the period. California State Teachers Retirement System raised its stake in shares of Galena Biopharma by 15.1% in the third quarter. California State Teachers Retirement System now owns 442,650 shares of the biotechnology company’s stock valued at $155,000 after buying an additional 58,100 shares during the last quarter. Bank of New York Mellon Corp raised 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 during the last quarter. BlackRock Investment Management LLC raised 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 during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Galena Biopharma by 6.9% in the third quarter. Northern Trust Corp now owns 2,041,633 shares of the biotechnology company’s stock valued at $715,000 after buying an additional 131,185 shares during the last quarter. Hedge funds and other institutional investors own 15.02% of the company’s stock.

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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