Gelesis Holdings, Inc. (NYSE:GLS) Sees Significant Decrease in Short Interest

Gelesis Holdings, Inc. (NYSE:GLSGet Rating) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 616,600 shares, a decrease of 7.5% from the August 15th total of 666,700 shares. Based on an average trading volume of 103,600 shares, the days-to-cover ratio is currently 6.0 days. Approximately 2.8% of the shares of the company are sold short.

Gelesis Price Performance

Gelesis stock opened at $1.12 on Tuesday. The company has a debt-to-equity ratio of 5.89, a current ratio of 0.89 and a quick ratio of 0.62. Gelesis has a twelve month low of $1.01 and a twelve month high of $12.23. The company’s 50-day moving average price is $1.34 and its two-hundred day moving average price is $3.07.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC bought a new position in Gelesis in the first quarter valued at approximately $5,276,000. Vanguard Group Inc. bought a new position in Gelesis in the first quarter valued at about $1,809,000. BlackRock Inc. bought a new position in Gelesis in the first quarter valued at about $1,284,000. Beacon Pointe Advisors LLC bought a new position in Gelesis in the first quarter valued at about $540,000. Finally, State Street Corp raised its position in Gelesis by 190.4% in the second quarter. State Street Corp now owns 160,356 shares of the company’s stock valued at $249,000 after purchasing an additional 105,132 shares during the last quarter. 13.35% of the stock is owned by institutional investors.

Gelesis Company Profile

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Gelesis Holdings Inc, a commercial stage biotherapeutics company, developing a biomimicry to treat the genesis of obesity and GI-related chronic diseases. The company also provides PLENITY, an orally administered, non-stimulant, and non-systemic aid for weight management. In addition, it offers a product for obesity and overweight and a pipeline with potential therapies for non-alcoholic fatty liver disease/non-alcoholic steatohepatitis, type 2 diabetes, and GS500 for Functional Constipation.

Further Reading

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