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

StockNews.com downgraded shares of Galectin Therapeutics (NASDAQ:GALT) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

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

Galectin Therapeutics Trading Down 2.9 %

Shares of GALT traded down $0.08 on Tuesday, reaching $2.67. 60,612 shares of the company’s stock were exchanged, compared to its average volume of 145,196. Galectin Therapeutics has a 12 month low of $1.55 and a 12 month high of $4.27. The stock has a market capitalization of $166.29 million, a P/E ratio of -3.48 and a beta of 0.62. The business has a 50 day moving average price of $2.68 and a two-hundred day moving average price of $2.63.

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

Institutional Trading of Galectin Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Galectin Therapeutics by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock worth $4,732,000 after acquiring an additional 38,037 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Galectin Therapeutics by 317.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after purchasing an additional 367,610 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Galectin Therapeutics in the second quarter valued at approximately $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 during the period. Finally, Bank of New York Mellon Corp bought a new stake in Galectin Therapeutics in the 2nd quarter valued at $146,000. 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, 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.