Galectin Therapeutics (NASDAQ:GALT) Shares Cross Above 200-Day Moving Average – What’s Next?

Galectin Therapeutics Inc. (NASDAQ:GALT)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.79 and traded as high as $5.24. Galectin Therapeutics shares last traded at $5.05, with a volume of 257,960 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on GALT. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Galectin Therapeutics in a report on Thursday, August 14th. Wall Street Zen upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Galectin Therapeutics in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $6.00.

Galectin Therapeutics Stock Performance

The stock’s 50 day simple moving average is $4.46 and its 200 day simple moving average is $2.79. The firm has a market capitalization of $323.50 million, a P/E ratio of -7.89 and a beta of 0.85.

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

Insider Activity at Galectin Therapeutics

In related news, CFO Jack W. Callicutt sold 8,706 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $6.44, for a total value of $56,066.64. Following the completion of the transaction, the chief financial officer owned 7,614 shares of the company’s stock, valued at $49,034.16. The trade was a 53.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joel Lewis sold 14,000 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $6.36, for a total value of $89,040.00. Following the sale, the chief executive officer directly owned 832,592 shares in the company, valued at $5,295,285.12. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. 50.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Galectin Therapeutics

Several institutional investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of Galectin Therapeutics by 101.4% during the 4th quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock valued at $49,000 after purchasing an additional 19,316 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Galectin Therapeutics by 46.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,510 shares of the company’s stock valued at $66,000 after buying an additional 16,412 shares in the last quarter. Sovran Advisors LLC raised its stake in Galectin Therapeutics by 7.4% in the first quarter. Sovran Advisors LLC now owns 199,830 shares of the company’s stock valued at $244,000 after buying an additional 13,816 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Galectin Therapeutics in the first quarter worth about $287,000. Finally, Nuveen LLC purchased a new stake in shares of Galectin Therapeutics during the first quarter worth about $34,000. 11.68% of the stock is currently owned by institutional investors and hedge funds.

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.