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 $3.32 and traded as high as $3.37. Galectin Therapeutics shares last traded at $3.19, with a volume of 195,198 shares traded.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the company. Zacks Research raised Galectin Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Galectin Therapeutics in a report on Monday, September 14th. 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, Galectin Therapeutics presently has an average rating of “Hold” and an average target price of $11.00.
Check Out Our Latest Research Report on GALT
Galectin Therapeutics Trading Down 5.6%
The business has a 50-day moving average price of $3.85 and a 200-day moving average price of $3.32. The firm has a market cap of $210.08 million, a P/E ratio of -7.42 and a beta of 0.38.
Galectin Therapeutics (NASDAQ:GALT – Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). On average, equities analysts anticipate that Galectin Therapeutics Inc. will post -0.30 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Galectin Therapeutics
Institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new position in Galectin Therapeutics in the 1st quarter worth $413,000. Bank of New York Mellon Corp acquired a new position in shares of Galectin Therapeutics in the 2nd quarter valued at about $491,000. Hopwood Nicholas Hunter purchased a new stake in shares of Galectin Therapeutics in the second quarter worth about $322,000. Vivaldi Capital Management LP boosted its stake in shares of Galectin Therapeutics by 26.7% in the first quarter. Vivaldi Capital Management LP now owns 258,584 shares of the company’s stock worth $721,000 after buying an additional 54,514 shares during the last quarter. Finally, Sovran Advisors LLC grew its stake in shares of Galectin Therapeutics by 14.1% during the 1st quarter. Sovran Advisors LLC now owns 257,830 shares of the company’s stock worth $719,000 after purchasing an additional 31,956 shares during the period. 11.68% of the stock is owned by hedge funds and other 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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