Galectin Therapeutics (NASDAQ:GALT) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Galectin Therapeutics (NASDAQ:GALT) from a hold rating to a sell rating in a research note published on Saturday.

Separately, HC Wainwright reiterated a buy rating and set a $11.00 price objective on shares of Galectin Therapeutics in a research note on Friday, August 16th.

Galectin Therapeutics Stock Down 1.1 %

GALT opened at $2.72 on Friday. Galectin Therapeutics has a 52-week low of $1.55 and a 52-week high of $4.27. The company has a 50 day moving average of $2.49 and a two-hundred day moving average of $2.71. The company has a market cap of $169.04 million, a P/E ratio of -3.68 and a beta of 0.62.

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

Institutional Trading of Galectin Therapeutics

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Galectin Therapeutics by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock valued at $4,732,000 after purchasing an additional 38,037 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Galectin Therapeutics by 317.6% during the second 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 increased 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 valued at $952,000 after buying an additional 214,512 shares during the period. Sanctuary Advisors LLC bought a new stake in Galectin Therapeutics in the 2nd quarter valued at $227,000. Finally, Squarepoint Ops LLC grew its holdings in shares of Galectin Therapeutics by 75.4% in the 2nd quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock worth $190,000 after purchasing an additional 36,139 shares during the last quarter. Institutional investors and hedge funds own 11.68% of the company’s stock.

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.