Short Interest in Galectin Therapeutics Inc. (NASDAQ:GALT) Rises By 5.1%

Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 2,250,000 shares, a growth of 5.1% from the March 15th total of 2,140,000 shares. Based on an average trading volume of 105,800 shares, the days-to-cover ratio is presently 21.3 days. Currently, 5.3% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in Galectin Therapeutics by 21.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 56,184 shares of the company's stock valued at $90,000 after purchasing an additional 10,000 shares during the period. Centaurus Financial Inc. purchased a new position in Galectin Therapeutics during the 1st quarter valued at $34,000. Atria Wealth Solutions Inc. purchased a new position in Galectin Therapeutics during the 1st quarter valued at $460,000. State Street Corp increased its position in Galectin Therapeutics by 9.4% during the 1st quarter. State Street Corp now owns 173,740 shares of the company's stock valued at $280,000 after purchasing an additional 14,981 shares during the period. Finally, MML Investors Services LLC grew its position in shares of Galectin Therapeutics by 28.4% in the 3rd quarter. MML Investors Services LLC now owns 49,777 shares of the company's stock worth $81,000 after buying an additional 11,000 shares during the period. 11.68% of the stock is owned by hedge funds and other institutional investors.

Galectin Therapeutics Stock Performance

Shares of NASDAQ GALT traded down $0.51 during mid-day trading on Tuesday, hitting $3.40. The stock had a trading volume of 350,339 shares, compared to its average volume of 124,353. Galectin Therapeutics has a 1 year low of $1.28 and a 1 year high of $4.27. The business has a 50 day moving average price of $2.31 and a two-hundred day moving average price of $2.04. The firm has a market cap of $210.46 million, a P/E ratio of -4.59 and a beta of 0.84.

Analysts Set New Price Targets

Several brokerages recently commented on GALT. HC Wainwright reaffirmed a "buy" rating and issued a $11.00 target price on shares of Galectin Therapeutics in a research note on Tuesday, April 9th. StockNews.com raised shares of Galectin Therapeutics from a "sell" rating to a "hold" rating in a research note on Monday, April 1st.

Galectin Therapeutics Company Profile

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, a galactoarabino-rhamnogalacturonan polysaccharide polymer that is in Phase III clinical trial for the treatment of liver fibrosis associated with fatty liver disease and non-alcoholic steatohepatitis cirrhosis, as well as for the treatment of cancer.

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