Galena Biopharma June 15th Short Interest Update

Galena Biopharma (NASDAQ:GALE) stated gains of 1,880,115 shares or 8.5% in the short interest. The short interest registered from 22,071,828 on May 31,2016 to 23,951,943 on June 15,2016. In terms of floated shares, the shorted positions stood at 13.2%. The stock has been averaging 5,653,844 shares daily in trading and would need 4 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Galena Biopharma (NASDAQ:GALE): The stock opened at $1.98 on Friday but the bulls could not build on the opening and the stock topped out at $2.12 for the day. The stock traded down to $1.95 during the day, due to lack of any buying support eventually closed down at $2.10 with a loss of -2.33% for the day. The stock had closed at $2.15 on the previous day. The total traded volume was 3,288,830 shares.

The company shares have rallied 26.51% from its 1 Year high price. On Jun 20, 2016, the shares registered one year high at $2.49 and the one year low was seen on Feb 3, 2016. The 50-Day Moving Average price is $1.81 and the 200 Day Moving Average price is recorded at $1.30.

Galena Biopharma (NASDAQ:GALE) has tumbled 5.41% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 21.39% in the last four weeks. The stocks have underperformed the S&P 500 by 3.84% during the past week but Galena Biopharma (NASDAQ:GALE) it has outperformed the index in 4 weeks by 25.06%.

Galena Biopharma, Inc. is a biopharmaceutical company. The Company is focused on developing and commercializing targeted oncology therapeutics. Its development portfolio ranges from mid- to late-stage clinical assets, including immunotherapy program led by its lead product NeuVax (nelipepimut-S), which is in Phase III clinical trial and is a targeted cancer immunotherapy. NeuVax is the immunodominant nonapeptide derived from the extracellular domain of the HER2 protein, a target for therapeutic intervention in breast and gastric carcinomas. GALE-301 is an immunogenic peptide and can stimulate cytotoxic T lymphocytes to recognize and destroy Folate Binding Protein-expressing cancer cells. GALE-401 is a controlled release formulation of anagrelide. Its commercial drug, Abstral (fentanyl) Sublingual Tablets is a treatment option for inadequately controlled breakthrough cancer pain.

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