StockNews.com Begins Coverage on Galectin Therapeutics (NASDAQ:GALT)

StockNews.com initiated coverage on shares of Galectin Therapeutics (NASDAQ:GALT – Get Rating) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the stock.

Separately, HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Galectin Therapeutics in a report on Friday, March 3rd.

Galectin Therapeutics Price Performance

GALT opened at $1.93 on Friday. The stock’s 50 day simple moving average is $1.53 and its 200 day simple moving average is $1.47. The firm has a market cap of $115.05 million, a price-to-earnings ratio of -3.27 and a beta of 1.42. Galectin Therapeutics has a 1 year low of $1.02 and a 1 year high of $2.57.

Hedge Funds Weigh In On Galectin Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of GALT. PNC Financial Services Group Inc. grew its stake in shares of Galectin Therapeutics by 21.7% in the first quarter. PNC Financial Services Group Inc. now owns 56,184 shares of the company’s stock worth $90,000 after purchasing an additional 10,000 shares during the last quarter. MML Investors Services LLC grew its position in shares of Galectin Therapeutics by 28.4% in the 3rd quarter. MML Investors Services LLC now owns 49,777 shares of the company’s stock worth $81,000 after buying an additional 11,000 shares during the last quarter. State Street Corp increased its stake in shares of Galectin Therapeutics by 9.4% during the first 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 during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of Galectin Therapeutics by 78.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 34,412 shares of the company’s stock valued at $39,000 after buying an additional 15,157 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of 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 acquiring an additional 18,959 shares in the last quarter. 11.64% of the stock is owned by institutional investors.

Galectin Therapeutics Company Profile

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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.