Galectin Therapeutics (NASDAQ:GALT) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• Galectin Therapeutics shares briefly moved above their 200-day moving average of $3.32, reaching $3.37 before last trading at $3.19; the company’s market capitalization is approximately $210 million.
• Analyst sentiment remains mixed, with one Buy, one Hold and one Sell rating. The consensus rating is Hold, with an average price target of $11.00.
• The company reported a quarterly loss of $0.14 per share, missing estimates by $0.05, while institutional investors own 11.68% of the stock and several recently initiated or increased positions.

Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) shares crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $3.32 and traded as high as $3.37. Galectin Therapeutics shares last traded at $3.19, with a volume of 195,198 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GALT shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Galectin Therapeutics in a research note on Monday, September 14th. Zacks Research raised shares of Galectin Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $11.00.

Galectin Therapeutics Stock Performance

The company has a market capitalization of $210.09 million, a PE ratio of -7.42 and a beta of 0.38. The company has a 50 day moving average price of $3.85 and a 200 day moving average price of $3.32.

Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.05). On average, equities analysts forecast that Galectin Therapeutics Inc. will post -0.30 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Galectin Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in Galectin Therapeutics in the 1st quarter valued at about $413,000. Bank of New York Mellon Corp bought a new stake in Galectin Therapeutics during the second quarter worth approximately $491,000. Hopwood Nicholas Hunter acquired a new stake in shares of Galectin Therapeutics in the second quarter valued at $322,000. Vivaldi Capital Management LP lifted its holdings in Galectin Therapeutics by 26.7% in the 1st quarter. Vivaldi Capital Management LP now owns 258,584 shares of the company's stock valued at $721,000 after acquiring an additional 54,514 shares during the last quarter. Finally, Sovran Advisors LLC lifted its stake in Galectin Therapeutics by 14.1% during the first quarter. Sovran Advisors LLC now owns 257,830 shares of the company's stock valued at $719,000 after purchasing an additional 31,956 shares during the last quarter. 11.68% of the stock is currently owned by institutional investors.

About Galectin Therapeutics

Galectin Therapeutics Inc is a clinical-stage biotechnology company focused on developing therapies that target galectin-3, a protein associated with fibrosis, inflammation and immune regulation. The company's research is aimed at treating serious chronic diseases in which galectin-3 may contribute to disease progression.

Its lead investigational product is belapectin, also known as GR-MD-02, a galectin-3 inhibitor being studied primarily for liver diseases, including nonalcoholic steatohepatitis (NASH), now commonly referred to as metabolic dysfunction-associated steatohepatitis (MASH), and related cirrhosis complications such as portal hypertension.

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