Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.99 and traded as high as $3.60. Galectin Therapeutics shares last traded at $3.24, with a volume of 403,293 shares.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Zacks Research lowered Galectin Therapeutics from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Weiss Ratings upgraded Galectin Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, June 18th. HC Wainwright reaffirmed a "buy" rating and set a $11.00 target price on shares of Galectin Therapeutics in a research report on Tuesday, June 23rd. Finally, Wall Street Zen upgraded Galectin Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 13th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $11.00.
Get Our Latest Stock Report on Galectin Therapeutics
Galectin Therapeutics Trading Down 7.2%
The stock has a market cap of $213.39 million, a P/E ratio of -7.90 and a beta of 0.35. The firm's fifty day moving average is $3.46 and its 200 day moving average is $2.99.
Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.02). Research analysts forecast that Galectin Therapeutics Inc. will post -0.37 earnings per share for the current fiscal year.
Insider Activity at Galectin Therapeutics
In other Galectin Therapeutics news, Director Harold H. Shlevin sold 22,268 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $5.04, for a total value of $112,230.72. Following the sale, the director owned 6,500 shares of the company's stock, valued at $32,760. This trade represents a 77.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Khurram Jamil sold 47,467 shares of Galectin Therapeutics stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $5.04, for a total value of $239,233.68. Following the completion of the transaction, the insider directly owned 2,037 shares in the company, valued at approximately $10,266.48. This represents a 95.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 90,162 shares of company stock valued at $438,464. 52.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Galectin Therapeutics
Several hedge funds and other institutional investors have recently modified their holdings of GALT. Royal Bank of Canada increased its position in Galectin Therapeutics by 1,197.3% during the fourth quarter. Royal Bank of Canada now owns 6,175 shares of the company's stock worth $25,000 after acquiring an additional 5,699 shares during the period. Invesco Ltd. bought a new stake in Galectin Therapeutics in the 4th quarter valued at $43,000. Cetera Investment Advisers acquired a new stake in Galectin Therapeutics in the 4th quarter worth $59,000. JPMorgan Chase & Co. grew its position in Galectin Therapeutics by 25.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,470 shares of the company's stock worth $66,000 after purchasing an additional 3,133 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Galectin Therapeutics in the 4th quarter worth $68,000. Institutional investors and hedge funds own 11.68% of the company's stock.
About Galectin Therapeutics
(
Get Free Report)
Galectin Therapeutics, Inc is a clinical-stage biotechnology company focused on the development of novel therapies that target galectin proteins, which are implicated in fibrotic, inflammatory and malignant diseases. The company's lead product candidate, belapectin (formerly GR-MD-02), is a galectin-3 inhibitor being evaluated in Phase 2 clinical trials for nonalcoholic steatohepatitis (NASH) with cirrhosis. In addition to its core pipeline in fibrotic liver disease, Galectin Therapeutics continues to explore the potential of its galectin inhibitors in oncology and other indications driven by abnormal tissue remodeling.
Founded in 2000, the company is headquartered in Norcross, Georgia, where it oversees discovery research, preclinical studies and clinical trial coordination.
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