Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.56 and traded as high as $2.96. Galectin Therapeutics shares last traded at $2.74, with a volume of 304,507 shares traded.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on GALT shares. HC Wainwright started coverage on shares of Galectin Therapeutics in a research note on Tuesday, June 17th. They set a "buy" rating and a $6.00 target price for the company. Wall Street Zen raised shares of Galectin Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st.
Read Our Latest Analysis on GALT
Galectin Therapeutics Stock Down 1.0%
The stock has a market capitalization of $184.17 million, a PE ratio of -4.04 and a beta of 0.70. The stock's 50 day moving average price is $2.04 and its 200-day moving average price is $1.61.
Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.05. As a group, sell-side analysts predict that Galectin Therapeutics Inc. will post -0.73 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Galectin Therapeutics
A number of large investors have recently added to or reduced their stakes in GALT. Y Intercept Hong Kong Ltd bought a new position in Galectin Therapeutics in the first quarter worth about $287,000. Truist Financial Corp bought a new position in Galectin Therapeutics in the second quarter worth about $143,000. LPL Financial LLC raised its holdings in Galectin Therapeutics by 69.6% in the fourth quarter. LPL Financial LLC now owns 138,928 shares of the company's stock worth $179,000 after purchasing an additional 57,020 shares in the last quarter. HighTower Advisors LLC raised its holdings in Galectin Therapeutics by 244.1% in the first quarter. HighTower Advisors LLC now owns 77,375 shares of the company's stock worth $94,000 after purchasing an additional 54,889 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Galectin Therapeutics by 8.8% in the first quarter. Geneos Wealth Management Inc. now owns 423,235 shares of the company's stock worth $516,000 after purchasing an additional 34,300 shares in the last quarter. 11.68% of the stock is currently owned by institutional investors.
About Galectin Therapeutics
(
Get Free Report)
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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