Galectin Therapeutics (NASDAQ:GALT) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Galectin Therapeutics (NASDAQ:GALT) posted its quarterly earnings data on Friday. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02), FiscalAI reports.

Galectin Therapeutics Price Performance

Shares of NASDAQ GALT traded down $0.18 during trading on Friday, hitting $2.17. 366,269 shares of the company were exchanged, compared to its average volume of 311,814. Galectin Therapeutics has a 1 year low of $1.21 and a 1 year high of $7.13. The company has a market cap of $142.85 million, a price-to-earnings ratio of -5.29 and a beta of 0.45. The firm’s fifty day moving average price is $2.57 and its 200 day moving average price is $3.69.

Institutional Trading of Galectin Therapeutics

A number of institutional investors have recently added to or reduced their stakes in GALT. Royal Bank of Canada grew its holdings in shares of Galectin Therapeutics by 1,197.3% in the 4th quarter. Royal Bank of Canada now owns 6,175 shares of the company’s stock worth $25,000 after acquiring an additional 5,699 shares during the period. Invesco Ltd. purchased a new position in Galectin Therapeutics during the fourth quarter worth about $43,000. Cetera Investment Advisers acquired a new stake in shares of Galectin Therapeutics in the fourth quarter worth approximately $59,000. JPMorgan Chase & Co. boosted its holdings in shares of Galectin Therapeutics by 25.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,470 shares of the company’s stock valued at $66,000 after purchasing an additional 3,133 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Galectin Therapeutics in the fourth quarter valued at $68,000. Hedge funds and other institutional investors own 11.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GALT. Weiss Ratings downgraded Galectin Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Wall Street Zen downgraded Galectin Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.00.

About Galectin Therapeutics

Galectin Therapeutics, Inc is a clinical-stage biotechnology company focused on the development of novel therapies that target galectin proteins, which are implicated in fibrotic, inflammatory and malignant diseases. The company’s lead product candidate, belapectin (formerly GR-MD-02), is a galectin-3 inhibitor being evaluated in Phase 2 clinical trials for nonalcoholic steatohepatitis (NASH) with cirrhosis. In addition to its core pipeline in fibrotic liver disease, Galectin Therapeutics continues to explore the potential of its galectin inhibitors in oncology and other indications driven by abnormal tissue remodeling.

Founded in 2000, the company is headquartered in Norcross, Georgia, where it oversees discovery research, preclinical studies and clinical trial coordination.