Galectin Therapeutics (NASDAQ:GALT) Stock Price Passes Above Two Hundred Day Moving Average of $2.25

Galectin Therapeutics Inc. (NASDAQ:GALTGet Free Report)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.25 and traded as high as $3.28. Galectin Therapeutics shares last traded at $3.16, with a volume of 158,522 shares.

Wall Street Analysts Forecast Growth

GALT has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Galectin Therapeutics in a research note on Tuesday, April 9th. StockNews.com cut shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, May 13th.

Check Out Our Latest Research Report on GALT

Galectin Therapeutics Trading Down 2.2 %

The firm’s 50-day moving average price is $3.03 and its 200 day moving average price is $2.25. The company has a market capitalization of $196.39 million, a price-to-earnings ratio of -4.27 and a beta of 0.72.

Galectin Therapeutics (NASDAQ:GALTGet Free Report) last issued its earnings results on Wednesday, May 15th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.03). As a group, equities research analysts anticipate that Galectin Therapeutics Inc. will post -0.66 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder James C. Czirr sold 21,323 shares of Galectin Therapeutics stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $3.06, for a total transaction of $65,248.38. Following the sale, the insider now directly owns 5,925,884 shares of the company’s stock, valued at approximately $18,133,205.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders bought 4,500 shares of company stock worth $14,360. 52.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Galectin Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in GALT. Retirement Guys Formula LLC grew its holdings in shares of Galectin Therapeutics by 87.0% during the 4th quarter. Retirement Guys Formula LLC now owns 21,500 shares of the company’s stock valued at $36,000 after purchasing an additional 10,000 shares during the last quarter. Beacon Capital Management LLC grew its holdings in Galectin Therapeutics by 89.6% during the 4th quarter. Beacon Capital Management LLC now owns 23,905 shares of the company’s stock worth $40,000 after acquiring an additional 11,300 shares during the last quarter. Solutions 4 Wealth Ltd bought a new stake in Galectin Therapeutics during the 4th quarter worth approximately $60,000. D.A. Davidson & CO. grew its holdings in Galectin Therapeutics by 15.2% during the 3rd quarter. D.A. Davidson & CO. now owns 37,825 shares of the company’s stock worth $73,000 after acquiring an additional 5,000 shares during the last quarter. 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 worth $952,000 after acquiring an additional 214,512 shares during the last quarter. 11.68% of the stock is owned by institutional investors.

About Galectin Therapeutics

(Get Free Report)

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.

Further Reading

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