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

Key Points

• Galectin Therapeutics' stock (NASDAQ:GALT) recently surpassed its 200-day moving average, reaching a high of $3.84 before closing at $3.57 with significant trading volume.
• Analyst opinions are shifting, with Wall Street Zen upgrading the stock from "sell" to "hold" and HC Wainwright maintaining a "buy" rating with a target price of $6.00.
• The company reported a quarterly earnings surprise, posting an EPS of ($0.12), beating expectations by $0.04, while analysts predict an EPS of (-0.73) for the current year.

Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.86 and traded as high as $3.84. Galectin Therapeutics shares last traded at $3.57, with a volume of 186,177 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GALT shares. Wall Street Zen upgraded Galectin Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. HC Wainwright restated a "buy" rating and issued a $6.00 price target on shares of Galectin Therapeutics in a research note on Thursday.

Galectin Therapeutics Trading Down 5.1%

The business's 50 day moving average price is $2.75 and its two-hundred day moving average price is $1.86. The company has a market capitalization of $225.95 million, a price-to-earnings ratio of -5.58 and a beta of 0.82.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in Galectin Therapeutics during the 1st quarter worth approximately $34,000. Two Sigma Securities LLC bought a new position in Galectin Therapeutics during the 4th quarter worth approximately $37,000. Marshall Wace LLP bought a new position in Galectin Therapeutics during the 2nd quarter worth approximately $64,000. Bank of America Corp DE raised its holdings in Galectin Therapeutics by 101.4% during the 4th quarter. Bank of America Corp DE now owns 38,358 shares of the company's stock worth $49,000 after purchasing an additional 19,316 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in Galectin Therapeutics by 226.6% during the 2nd quarter. XTX Topco Ltd now owns 42,805 shares of the company's stock worth $90,000 after purchasing an additional 29,699 shares during the last quarter. 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.

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