Galectin Therapeutics (NASDAQ:GALT) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• Galectin Therapeutics shares recently crossed above their 200-day moving average, indicating a potential bullish trend, with current trading at $4.00.
• Research firms have given the stock a buy rating with an average target price of $6.00, suggesting optimism about the company's future performance.
• Galectin Therapeutics is a clinical stage biopharmaceutical company developing therapies for serious diseases, with its lead product candidate currently in late-stage clinical trials.

Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.98 and traded as high as $4.07. Galectin Therapeutics shares last traded at $4.00, with a volume of 155,299 shares changing hands.

Analyst Upgrades and Downgrades

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

Galectin Therapeutics Stock Up 6.8%

The company has a 50 day moving average of $3.12 and a 200 day moving average of $2.03. The firm has a market cap of $272.26 million, a price-to-earnings ratio of -6.64 and a beta of 0.82.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in shares of Galectin Therapeutics in the second quarter worth about $1,580,000. Vivaldi Capital Management LP increased its holdings in Galectin Therapeutics by 210.0% in the second quarter. Vivaldi Capital Management LP now owns 172,443 shares of the company's stock valued at $364,000 after buying an additional 116,815 shares during the last quarter. Marshall Wace LLP bought a new stake in Galectin Therapeutics in the second quarter valued at about $64,000. XTX Topco Ltd increased its holdings in Galectin Therapeutics by 226.6% in the second quarter. XTX Topco Ltd now owns 42,805 shares of the company's stock valued at $90,000 after buying an additional 29,699 shares during the last quarter. Finally, Wealthspire Advisors LLC increased its holdings in Galectin Therapeutics by 20.4% in the second quarter. Wealthspire Advisors LLC now owns 479,518 shares of the company's stock valued at $1,012,000 after buying an additional 81,144 shares during the last quarter. Institutional investors and hedge funds 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.