Gelesis (NYSE:GLS) Coverage Initiated by Analysts at Citigroup

Citigroup started coverage on shares of Gelesis (NYSE:GLSGet Rating) in a research note issued to investors on Tuesday, The Fly reports. The firm issued a neutral rating and a $1.15 price target on the stock.

Gelesis Stock Performance

NYSE:GLS opened at $1.12 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.62 and a debt-to-equity ratio of 5.89. Gelesis has a 52 week low of $1.01 and a 52 week high of $12.23. The firm has a 50-day moving average price of $1.33 and a two-hundred day moving average price of $3.05.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Neuberger Berman Group LLC purchased a new position in Gelesis in the 1st quarter worth $5,276,000. Vanguard Group Inc. purchased a new position in shares of Gelesis in the first quarter valued at about $1,809,000. BlackRock Inc. purchased a new position in shares of Gelesis in the first quarter valued at about $1,284,000. Beacon Pointe Advisors LLC purchased a new position in shares of Gelesis in the first quarter valued at about $540,000. Finally, State Street Corp increased its position in shares of 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 acquiring an additional 105,132 shares during the period. 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.

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