Galectin Therapeutics (NASDAQ:GALT) Stock Passes Above 200-Day Moving Average of $2.09

Galectin Therapeutics Inc. (NASDAQ:GALT) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.09 and traded as high as $3.55. Galectin Therapeutics shares last traded at $3.38, with a volume of 235,547 shares.

Wall Street Analyst Weigh In

Several research firms have weighed in on GALT. StockNews.com upgraded shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, April 1st. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of Galectin Therapeutics in a report on Tuesday, April 9th.

Galectin Therapeutics Price Performance

The business’s fifty day moving average is $2.51 and its 200-day moving average is $2.09. The firm has a market cap of $209.24 million, a PE ratio of -4.57 and a beta of 0.84.

Hedge Funds Weigh In On Galectin Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. D.A. Davidson & CO. boosted its position in shares of Galectin Therapeutics by 15.2% in the third quarter. D.A. Davidson & CO. now owns 37,825 shares of the company’s stock valued at $73,000 after acquiring an additional 5,000 shares during the period. Solutions 4 Wealth Ltd bought a new position in shares of Galectin Therapeutics in the fourth quarter valued at approximately $60,000. Retirement Guys Formula LLC boosted its position in shares of Galectin Therapeutics by 56.9% in the first quarter. Retirement Guys Formula LLC now owns 33,732 shares of the company’s stock valued at $81,000 after acquiring an additional 12,232 shares during the period. AE Wealth Management LLC boosted its position in shares of Galectin Therapeutics by 72.7% in the third quarter. AE Wealth Management LLC now owns 26,841 shares of the company’s stock valued at $52,000 after acquiring an additional 11,300 shares during the period. Finally, Beacon Capital Management LLC raised its stake in Galectin Therapeutics by 89.6% in the fourth quarter. Beacon Capital Management LLC now owns 23,905 shares of the company’s stock valued at $40,000 after purchasing an additional 11,300 shares in the last quarter. Institutional investors 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, a galactoarabino-rhamnogalacturonan polysaccharide polymer that is in Phase III clinical trial for the treatment of liver fibrosis associated with fatty liver disease and non-alcoholic steatohepatitis cirrhosis, as well as for the treatment of cancer.