Galectin Therapeutics (NASDAQ:GALT) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Galectin Therapeutics (NASDAQ:GALT – Get Rating) in a report released on Thursday morning. The brokerage issued a sell rating on the stock.

Separately, HC Wainwright reissued a buy rating and set a $11.00 price objective on shares of Galectin Therapeutics in a research note on Friday, March 3rd.

Galectin Therapeutics Price Performance

GALT stock opened at $2.06 on Thursday. The firm has a market cap of $122.80 million, a PE ratio of -3.49 and a beta of 1.42. Galectin Therapeutics has a 12 month low of $1.02 and a 12 month high of $2.57. The firm has a 50 day simple moving average of $1.45 and a 200 day simple moving average of $1.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GALT. Atria Wealth Solutions Inc. purchased a new stake in shares of Galectin Therapeutics in the 1st quarter valued at approximately $460,000. Millennium Management LLC boosted its position in Galectin Therapeutics by 7.8% during the fourth quarter. Millennium Management LLC now owns 260,906 shares of the company’s stock valued at $295,000 after purchasing an additional 18,959 shares during the last quarter. State Street Corp grew its stake in shares of Galectin Therapeutics by 9.4% in the 1st quarter. State Street Corp now owns 173,740 shares of the company’s stock valued at $280,000 after buying an additional 14,981 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Galectin Therapeutics by 165.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 101,522 shares of the company’s stock worth $114,000 after acquiring an additional 63,302 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Galectin Therapeutics by 21.7% during the first quarter. PNC Financial Services Group Inc. now owns 56,184 shares of the company’s stock worth $90,000 after buying an additional 10,000 shares during the last quarter. 11.64% of the stock is currently owned by institutional investors and hedge funds.

About Galectin Therapeutics

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Galectin Therapeutics, Inc is a biotechnology company, which engages in drug research and development to create new therapies for fibrotic disease, severe skin disease, and cancer. Its programs target the development of carbohydrate molecules which offers alternative options to larger market segments.