Galectin Therapeutics (NASDAQ:GALT) Stock Rating Lowered by StockNews.com

Galectin Therapeutics (NASDAQ:GALT) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

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

Galectin Therapeutics Stock Down 2.0 %

Shares of GALT opened at $2.90 on Tuesday. The business has a 50-day simple moving average of $2.67 and a two-hundred day simple moving average of $2.63. Galectin Therapeutics has a 12-month low of $1.55 and a 12-month high of $4.27. The stock has a market cap of $180.61 million, a PE ratio of -3.67 and a beta of 0.62.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). On average, equities research analysts expect that Galectin Therapeutics will post -0.79 EPS for the current year.

Institutional Trading of Galectin Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Galectin Therapeutics by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock valued at $4,732,000 after buying an additional 38,037 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Galectin Therapeutics by 75.4% during the second quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock valued at $190,000 after purchasing an additional 36,139 shares during the period. Commonwealth Equity Services LLC increased its holdings in Galectin Therapeutics by 317.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after acquiring an additional 367,610 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Galectin Therapeutics during the 2nd quarter valued at $146,000. Finally, Marshall Wace LLP bought a new stake in Galectin Therapeutics during the second quarter valued at about $43,000. Hedge funds and other institutional investors own 11.68% of the company’s stock.

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.