Galectin Therapeutics (NASDAQ:GALT) Lowered to Sell at StockNews.com

StockNews.com lowered shares of Galectin Therapeutics (NASDAQ:GALT) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Separately, HC Wainwright restated a buy rating and issued a $11.00 target price on shares of Galectin Therapeutics in a report on Friday, August 16th.

Galectin Therapeutics Price Performance

Shares of NASDAQ GALT opened at $2.75 on Friday. The firm’s 50-day moving average is $2.49 and its two-hundred day moving average is $2.70. The company has a market capitalization of $170.91 million, a PE ratio of -3.72 and a beta of 0.62. Galectin Therapeutics has a 12-month low of $1.55 and a 12-month high of $4.27.

Galectin Therapeutics (NASDAQ:GALT) last announced its earnings results on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). On average, analysts forecast that Galectin Therapeutics will post -0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Galectin Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in GALT. Retirement Guys Formula LLC lifted its position in Galectin Therapeutics by 56.9% during the first quarter. Retirement Guys Formula LLC now owns 33,732 shares of the company’s stock worth $81,000 after buying an additional 12,232 shares during the period. Wealthspire Advisors LLC lifted its holdings in shares of Galectin Therapeutics by 116.7% during the 1st quarter. Wealthspire Advisors LLC now owns 398,374 shares of the company’s stock worth $952,000 after acquiring an additional 214,512 shares during the period. Vanguard Group Inc. boosted its position in shares of Galectin Therapeutics by 2.0% in the first 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 last quarter. Traynor Capital Management Inc. grew its holdings in Galectin Therapeutics by 23.5% in the second quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock valued at $97,000 after purchasing an additional 8,164 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Galectin Therapeutics during the second quarter worth approximately $146,000. 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.