Galectin Therapeutics (NASDAQ:GALT) Cut 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 report report published on Saturday morning.

Separately, HC Wainwright reaffirmed a buy rating and issued a $11.00 price objective 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 stock has a fifty day moving average price of $2.49 and a 200 day moving average price of $2.70. Galectin Therapeutics has a 1-year low of $1.55 and a 1-year high of $4.27. The company has a market cap of $170.91 million, a PE ratio of -3.72 and a beta of 0.62.

Galectin Therapeutics (NASDAQ:GALT) last released its earnings results on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.04). Analysts anticipate that Galectin Therapeutics will post -0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Galectin Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new stake in Galectin Therapeutics during the second quarter worth about $227,000. Squarepoint Ops LLC boosted its stake in shares of Galectin Therapeutics by 75.4% during the 2nd quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock worth $190,000 after acquiring an additional 36,139 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Galectin Therapeutics in the 2nd quarter worth approximately $43,000. Rhumbline Advisers acquired a new stake in shares of Galectin Therapeutics in the 2nd quarter worth approximately $44,000. Finally, Commonwealth Equity Services LLC increased its stake in Galectin Therapeutics by 317.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock valued at $1,092,000 after purchasing an additional 367,610 shares in the last quarter. 11.68% of the stock is currently owned by hedge funds and other institutional investors.

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.