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

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

Separately, HC Wainwright restated 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 Up 2.3 %

Shares of Galectin Therapeutics stock opened at $2.71 on Friday. The company’s fifty day simple moving average is $2.49 and its two-hundred day simple moving average is $2.69. The company has a market cap of $168.42 million, a P/E ratio of -3.66 and a beta of 0.62. Galectin Therapeutics has a 12-month low of $1.55 and a 12-month high of $4.27.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GALT. Marshall Wace LLP acquired a new position in shares of Galectin Therapeutics during the second quarter valued at about $43,000. Rhumbline Advisers purchased a new stake in Galectin Therapeutics in the second quarter valued at approximately $44,000. Retirement Guys Formula LLC boosted its position in 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 buying an additional 12,232 shares during the last quarter. Traynor Capital Management Inc. boosted its position in Galectin Therapeutics by 23.5% in the 2nd quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock worth $97,000 after purchasing an additional 8,164 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Galectin Therapeutics in the 2nd quarter worth approximately $146,000. 11.68% of the stock is owned by hedge funds and other institutional investors.

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.