The most recent filing that the company made with the Securities and Exchange Commission revealed that during the third quarter, Assenagon Asset Management S.A. increased the percentage of its holdings in Gemini Therapeutics, Inc. (NASDAQ: GMTX) by 423.2%. The institutional investor’s portfolio currently contains 82,171 shares following the acquisition of an additional 66,467 shares of the company’s stock during the period above. According to the most recent disclosure that Assenagon Asset Management S.A. made with the Securities and Exchange Commission, it owned approximately 0.19% of Gemini Therapeutics, valued at the time at approximately USD 135,000. Assenagon Asset Management S.A. provided this information.
Other significant investors have only recently made adjustments to their holdings of GMTX. The amount of ownership that Renaissance Technologies LLC had in Gemini Therapeutics increased by 2,850.4% over the first three months of 2018. After making additional purchases totaling 339,200 shares during the most recent quarter, Renaissance Technologies LLC now owns 351,100 shares. The current value of these shares brings the company’s holdings to a total of $488,000. Millennium Management LLC achieved a 42.1% increase in its stake in Gemini Therapeutics over the year’s second quarter. Millennium Management LLC now has 762,163 shares after purchasing an additional 225,961 in the most recent quarter. The value of these shares brings the company’s overall holdings to a total of $1,288,000. Bank of Montreal Canada paid approximately $276,000 to acquire a new holding in Gemini Therapeutics during the second quarter.UBS Group AG spent approximately 234,000 dollars during the second quarter to acquire a new position in Gemini Therapeutics. This transaction took place during the quarter. During the first three months of 2018, BlackRock Inc. increased the amount of Gemini Therapeutics stock owned by 3.5 percent, bringing us to our last point. BlackRock Inc. now has a total of 1,300,204 shares of the company’s stock, which have a combined value of $1,807,000 after the company made an additional purchase of 43,831 shares during the most recent fiscal quarter. Institutions hold stock ownership in their portfolios 75.42 percent of the time.
In related news, the largest shareholder in the company, Braden Michael Leonard, sold 22,500 shares of the company’s stock on Wednesday, October 26. This transaction was announced on the same day. A total price of $47,025.00 was received for the sale of the shares, which works out to an average selling price of $2.09 per share. The completion of the transaction has resulted in the business insider now directly owns 247,500 shares of the company’s stock. Based on the current stock price, this gives the business insider a value of $517,275. The Securities and Exchange Commission was given legal documents about the transaction, which were subsequently uploaded to the SEC website after being provided to the SEC. The company’s insiders collectively own 12.90% of the company’s shares.
Thursday was the first day that GMTX was officially available for trading, and the opening price was $19.20. The company’s moving average over the previous 200 days is $3.20, while the moving average over the previous 50 days is $6.10. Over the past 52 weeks, the share price of Gemini Therapeutics, Inc. has moved in a range that has extended from as low as $1.16 to as high as $3.15. It is estimated that the company has a market value of $831.90 million, and its price-to-earnings ratio is 19.20, while its beta value is 0.12.
Gemini Therapeutics, Inc., a clinical-stage precision medicine company, is in the process of developing a variety of therapeutic compounds for the treatment of genetically determined age-related macular degeneration. These compounds are being developed to treat genetically determined age-related macular degeneration (AMD). In the competition to find a treatment for dry age-related macular degeneration, the recombinant form of the human complement factor H protein that