Galectin Therapeutics (NASDAQ:GALT) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Shares of Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.47 and traded as high as $2.25. Galectin Therapeutics shares last traded at $2.25, with a volume of 259,127 shares.

Analyst Ratings Changes

A number of research firms recently commented on GALT. HC Wainwright began coverage on shares of Galectin Therapeutics in a report on Tuesday, June 17th. They set a "buy" rating and a $6.00 price objective on the stock. Wall Street Zen raised shares of Galectin Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st.

Galectin Therapeutics Stock Up 2.4%

The stock has a market cap of $158.86 million, a PE ratio of -3.49 and a beta of 0.70. The business's fifty day moving average is $1.74 and its 200 day moving average is $1.49.

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

Institutional Trading of Galectin Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Galectin Therapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 870,589 shares of the company's stock valued at $1,124,000 after purchasing an additional 8,047 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Galectin Therapeutics by 19.0% in the fourth quarter. Bank of New York Mellon Corp now owns 50,826 shares of the company's stock valued at $66,000 after purchasing an additional 8,105 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Galectin Therapeutics by 4.3% in the fourth quarter. Northern Trust Corp now owns 244,274 shares of the company's stock valued at $315,000 after purchasing an additional 9,994 shares in the last quarter. Sovran Advisors LLC lifted its holdings in shares of Galectin Therapeutics by 7.4% in the first quarter. Sovran Advisors LLC now owns 199,830 shares of the company's stock valued at $244,000 after purchasing an additional 13,816 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Galectin Therapeutics by 46.8% in the fourth 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 in the last quarter. 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.