Galectin Therapeutics Inc. (NASDAQ:GALT) Short Interest Update

Galectin Therapeutics Inc. (NASDAQ:GALT) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 4,570,000 shares, a growth of 14.0% from the June 30th total of 4,010,000 shares. Based on an average daily trading volume, of 190,800 shares, the days-to-cover ratio is presently 24.0 days. Approximately 10.7% of the company’s shares are sold short.

Institutional Trading of Galectin Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in GALT. Commonwealth Equity Services LLC raised its stake in shares of Galectin Therapeutics by 317.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after buying an additional 367,610 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Galectin Therapeutics in the 2nd quarter worth approximately $146,000. Traynor Capital Management Inc. grew its holdings in shares of Galectin Therapeutics by 23.5% in the 2nd quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock worth $97,000 after acquiring an additional 8,164 shares during the period. Vanguard Group Inc. grew its holdings in shares of Galectin Therapeutics by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock worth $4,732,000 after acquiring an additional 38,037 shares during the period. Finally, Wealthspire Advisors LLC grew its holdings in Galectin Therapeutics by 116.7% during the 1st quarter. Wealthspire Advisors LLC now owns 398,374 shares of the company’s stock valued at $952,000 after buying an additional 214,512 shares during the last quarter. 11.68% of the stock is owned by hedge funds and other institutional investors.

Galectin Therapeutics Stock Up 1.2 %

Shares of NASDAQ GALT traded up $0.03 during trading hours on Wednesday, reaching $2.49. The stock had a trading volume of 9,828 shares, compared to its average volume of 152,948. Galectin Therapeutics has a fifty-two week low of $1.35 and a fifty-two week high of $4.27. The firm has a 50-day moving average of $2.51 and a 200-day moving average of $2.50.

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). Equities research analysts forecast that Galectin Therapeutics will post -0.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. StockNews.com downgraded Galectin Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 18th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Galectin Therapeutics in a research report on Tuesday, April 9th.

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.