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

Galectin Therapeutics Inc. (NASDAQ:GALT) saw 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 short-interest ratio is currently 24.0 days. Approximately 10.7% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in 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. Commonwealth Equity Services LLC raised its holdings in Galectin Therapeutics by 317.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after acquiring an additional 367,610 shares during the period. Wealthspire Advisors LLC raised its holdings in Galectin Therapeutics by 116.7% in 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. Bank of New York Mellon Corp bought a new position in Galectin Therapeutics in the 2nd quarter worth $146,000. Finally, Traynor Capital Management Inc. raised its holdings in 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. Institutional investors own 11.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GALT. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of Galectin Therapeutics in a research note on Tuesday, April 9th. StockNews.com downgraded shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 18th.

Galectin Therapeutics Stock Up 1.2 %

Shares of Galectin Therapeutics stock traded up $0.03 during midday trading on Wednesday, reaching $2.49. 9,828 shares of the company’s stock traded hands, compared to its average volume of 152,948. The company’s 50 day simple moving average is $2.51 and its 200 day simple moving average is $2.50. Galectin Therapeutics has a 52 week low of $1.35 and a 52 week high of $4.27.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). Sell-side analysts forecast that Galectin Therapeutics will post -0.66 earnings per share for the current fiscal year.

Galectin Therapeutics Company Profile

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.