Galectin Therapeutics (NASDAQ:GALT) Share Price Passes Above 200 Day Moving Average - Here's Why

Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.45 and traded as high as $2.59. Galectin Therapeutics shares last traded at $2.11, with a volume of 455,660 shares.

Analysts Set New Price Targets

GALT has been the topic of several recent research reports. Wall Street Zen raised Galectin Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. HC Wainwright initiated coverage on Galectin Therapeutics in a report on Tuesday, June 17th. They set a "buy" rating and a $6.00 price objective on the stock.

Galectin Therapeutics Stock Performance

The company has a fifty day moving average of $1.64 and a two-hundred day moving average of $1.46. The company has a market cap of $136.39 million, a PE ratio of -2.99 and a beta of 0.70.

Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.05. On average, equities analysts forecast that Galectin Therapeutics Inc. will post -0.73 EPS for the current year.

Institutional Trading of Galectin Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. bought a new stake in shares of Galectin Therapeutics during the fourth quarter worth $26,000. Inspire Advisors LLC grew its position in shares of Galectin Therapeutics by 86.3% during the 4th quarter. Inspire Advisors LLC now owns 21,095 shares of the company's stock worth $27,000 after buying an additional 9,772 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Galectin Therapeutics during the 4th quarter worth $29,000. Nuveen LLC bought a new position in shares of Galectin Therapeutics during the 1st quarter worth $34,000. Finally, Two Sigma Securities LLC bought a new position in shares of Galectin Therapeutics during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 11.68% of the company's stock.

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.