Galectin Therapeutics (NASDAQ:GALT) Shares Cross Above 200 Day Moving Average – Time to Sell?

Galectin Therapeutics Inc. (NASDAQ:GALT) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $3.25 and traded as high as $3.86. Galectin Therapeutics shares last traded at $3.62, with a volume of 175,997 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GALT. HC Wainwright reiterated a “buy” rating and set a $11.00 target price on shares of Galectin Therapeutics in a research report on Tuesday, June 23rd. Wall Street Zen raised shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Zacks Research raised Galectin Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Galectin Therapeutics in a research note on Monday, September 14th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.00.

Galectin Therapeutics Price Performance

The stock has a 50 day simple moving average of $3.77 and a two-hundred day simple moving average of $3.26. The company has a market capitalization of $259.49 million, a price-to-earnings ratio of -9.16 and a beta of 0.38.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). Equities research analysts predict that Galectin Therapeutics Inc. will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GALT. Argyle Capital Partners LLC purchased a new position in shares of Galectin Therapeutics in the second quarter valued at $62,000. Archer Investment Corp acquired a new position in Galectin Therapeutics in the second quarter valued at approximately $81,000. Tulsa Wealth Advisors INC bought a new position in Galectin Therapeutics during the 4th quarter worth $97,000. Bank of America Corp DE increased its stake in shares of Galectin Therapeutics by 114.9% in the first quarter. Bank of America Corp DE now owns 53,862 shares of the company’s stock valued at $150,000 after purchasing an additional 28,799 shares during the period. Finally, Hopwood Nicholas Hunter bought a new stake in shares of Galectin Therapeutics during the 2nd quarter worth about $322,000. Hedge funds and other institutional investors own 11.68% of the company’s stock.

About Galectin Therapeutics

Galectin Therapeutics Inc (NASDAQ:GALT) is a biotechnology company focused on developing therapies that target galectin-3, a protein believed to play a role in fibrosis, inflammation and cancer biology. The company’s research is aimed at addressing serious chronic diseases for which treatment options remain limited.

Galectin Therapeutics’ lead investigational product is belapectin, also known as GR-MD-02. The drug is designed to inhibit galectin-3 and has been studied primarily in patients with advanced liver disease, including nonalcoholic steatohepatitis (NASH) with cirrhosis and portal hypertension.