Galectin Therapeutics (NASDAQ:GALT) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Galectin Therapeutics (NASDAQ:GALT) from a sell rating to a hold rating in a research note published on Wednesday.

Separately, HC Wainwright reiterated a buy rating and set a $11.00 target price on shares of Galectin Therapeutics in a research report on Tuesday, April 9th.

Galectin Therapeutics Trading Down 5.1 %

NASDAQ:GALT opened at $2.24 on Wednesday. The firm has a market cap of $139.22 million, a price-to-earnings ratio of -3.03 and a beta of 0.63. Galectin Therapeutics has a 12-month low of $1.35 and a 12-month high of $4.27. The company’s 50-day moving average is $2.67 and its two-hundred day moving average is $2.42.

Galectin Therapeutics (NASDAQ:GALT) last announced its earnings results on Wednesday, May 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). On average, equities research analysts forecast that Galectin Therapeutics will post -0.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Galectin Therapeutics news, major shareholder James C. Czirr sold 21,323 shares of Galectin Therapeutics stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $3.06, for a total value of $65,248.38. Following the transaction, the insider now owns 5,925,884 shares in the company, valued at approximately $18,133,205.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders purchased 4,500 shares of company stock valued at $14,360. Insiders own 52.70% of the company’s stock.

Institutional Trading of Galectin Therapeutics

A number of institutional investors have recently modified their holdings of GALT. Retirement Guys Formula LLC lifted its position in Galectin Therapeutics by 87.0% during the fourth quarter. Retirement Guys Formula LLC now owns 21,500 shares of the company’s stock valued at $36,000 after buying an additional 10,000 shares in the last quarter. Beacon Capital Management LLC lifted its holdings in shares of Galectin Therapeutics by 89.6% during the 4th quarter. Beacon Capital Management LLC now owns 23,905 shares of the company’s stock valued at $40,000 after acquiring an additional 11,300 shares in the last quarter. Solutions 4 Wealth Ltd purchased a new stake in Galectin Therapeutics during the 4th quarter worth $60,000. Wealthspire Advisors LLC increased its holdings in Galectin Therapeutics by 116.7% in the 1st quarter. Wealthspire Advisors LLC now owns 398,374 shares of the company’s stock valued at $952,000 after purchasing an additional 214,512 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Galectin Therapeutics by 2.0% in the first quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock valued at $4,732,000 after purchasing an additional 38,037 shares during the period. 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.