Galectin Therapeutics Inc. $GALT Shares Acquired by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC significantly increased its stake in Galectin Therapeutics Inc. by 244.1% during the first quarter, holding 77,375 shares valued at $94,000.
• Galectin Therapeutics reported an EPS of ($0.12) for the last quarter, surpassing analyst forecasts of ($0.16).
• HC Wainwright maintains a "buy" rating on the stock, with a target price set at $6.00, indicating investor optimism for Galectin's future performance.

HighTower Advisors LLC grew its holdings in Galectin Therapeutics Inc. (NASDAQ:GALT - Free Report) by 244.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 77,375 shares of the company's stock after acquiring an additional 54,889 shares during the quarter. HighTower Advisors LLC owned about 0.12% of Galectin Therapeutics worth $94,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GALT. Nuveen LLC purchased a new position in shares of Galectin Therapeutics in the 1st quarter valued at about $34,000. Bank of America Corp DE increased its holdings in shares of Galectin Therapeutics by 101.4% in the 4th quarter. Bank of America Corp DE now owns 38,358 shares of the company's stock valued at $49,000 after acquiring an additional 19,316 shares during the last quarter. Vivaldi Capital Management LP increased its holdings in shares of Galectin Therapeutics by 89.9% in the 4th quarter. Vivaldi Capital Management LP now owns 45,628 shares of the company's stock valued at $56,000 after acquiring an additional 21,596 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Galectin Therapeutics by 46.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,510 shares of the company's stock valued at $66,000 after purchasing an additional 16,412 shares during the period. Finally, Barclays PLC grew its stake in Galectin Therapeutics by 91.1% during the 4th quarter. Barclays PLC now owns 54,634 shares of the company's stock worth $71,000 after buying an additional 26,047 shares during the last quarter. Hedge funds and other institutional investors own 11.68% of the company's stock.

Galectin Therapeutics Stock Performance

Galectin Therapeutics stock traded up $0.94 during mid-day trading on Thursday, reaching $5.94. 1,134,329 shares of the company were exchanged, compared to its average volume of 202,349. Galectin Therapeutics Inc. has a twelve month low of $0.73 and a twelve month high of $5.99. The firm's 50-day simple moving average is $3.60 and its two-hundred day simple moving average is $2.26. The firm has a market cap of $380.52 million, a PE ratio of -9.28 and a beta of 0.86.

Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.04. As a group, equities research analysts anticipate that Galectin Therapeutics Inc. will post -0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GALT. HC Wainwright restated a "buy" rating and set a $6.00 price target on shares of Galectin Therapeutics in a research note on Thursday, August 14th. Wall Street Zen upgraded Galectin Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Galectin Therapeutics has an average rating of "Buy" and an average target price of $6.00.

About Galectin Therapeutics

Galectin Therapeutics Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, cancer, and other diseases. Its lead product candidate is belapectin (GR-MD-02) galectin-3 inhibitor, that is in Phase 2b/3 clinical trial, to prevent esophageal varices in patient with non-alcoholic steatohepatitis (NASH) cirrhosis; and Phase 2 clinical trial for the treatment of liver fibrosis, as well as severe skin disease, and melanoma and head and neck squamous cell carcinoma.