Galectin Therapeutics (NASDAQ:GALT) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Galectin Therapeutics Inc. (NASDAQ:GALT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.36 and traded as high as $5.90. Galectin Therapeutics shares last traded at $5.53, with a volume of 482,072 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Galectin Therapeutics in a research report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Galectin Therapeutics in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Galectin Therapeutics currently has an average rating of “Hold” and a consensus target price of $6.00.

Galectin Therapeutics Trading Down 5.1%

The business has a fifty day moving average price of $4.98 and a two-hundred day moving average price of $3.36. The company has a market cap of $356.57 million, a price-to-earnings ratio of -8.64 and a beta of 0.86.

Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. On average, analysts anticipate that Galectin Therapeutics Inc. will post -0.73 EPS for the current year.

Insider Buying and Selling at Galectin Therapeutics

In other news, major shareholder Fund L.P. 10X sold 50,000 shares of the business’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $4.94, for a total transaction of $247,000.00. Following the transaction, the insider directly owned 5,872,207 shares in the company, valued at $29,008,702.58. The trade was a 0.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jack W. Callicutt sold 28,629 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $6.07, for a total transaction of $173,778.03. Following the completion of the transaction, the chief financial officer directly owned 7,614 shares in the company, valued at $46,216.98. This trade represents a 78.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 121,065 shares of company stock valued at $685,325 in the last quarter. Company insiders own 52.60% of the company’s stock.

Institutional Investors Weigh In On Galectin Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in GALT. Nuveen LLC acquired a new stake in shares of Galectin Therapeutics during the 1st quarter valued at about $34,000. Atwood & Palmer Inc. acquired a new stake in Galectin Therapeutics in the third quarter valued at approximately $42,000. Archer Investment Corp acquired a new stake in Galectin Therapeutics in the third quarter valued at approximately $47,000. Bank of America Corp DE grew its position in Galectin Therapeutics by 101.4% in the fourth quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock worth $49,000 after acquiring an additional 19,316 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Galectin Therapeutics during the 2nd quarter worth $64,000. 11.68% of the stock is owned by hedge funds and other institutional investors.

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.