Research analysts at StockNews.com initiated coverage on shares of Galectin Therapeutics (NASDAQ:GALT – Get Rating) in a research report issued to clients and investors on Friday. The brokerage set a “sell” rating on the stock.
Galectin Therapeutics Stock Up 8.9 %
NASDAQ:GALT opened at $1.35 on Friday. Galectin Therapeutics has a 52 week low of $1.13 and a 52 week high of $2.75. The company has a market capitalization of $80.47 million, a P/E ratio of -2.29 and a beta of 1.74. The stock’s fifty day moving average is $1.48 and its two-hundred day moving average is $1.60.
Institutional Investors Weigh In On Galectin Therapeutics
Institutional investors and hedge funds have recently modified their holdings of the company. Citadel Advisors LLC raised its holdings in shares of Galectin Therapeutics by 269.5% in the 3rd quarter. Citadel Advisors LLC now owns 18,140 shares of the company’s stock valued at $29,000 after buying an additional 28,840 shares during the period. Centaurus Financial Inc. purchased a new position in Galectin Therapeutics during the 1st quarter worth approximately $34,000. Commonwealth Equity Services LLC grew its stake in Galectin Therapeutics by 59.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 26,902 shares of the company’s stock worth $43,000 after buying an additional 10,000 shares during the last quarter. MML Investors Services LLC grew its stake in Galectin Therapeutics by 28.4% during the 3rd quarter. MML Investors Services LLC now owns 49,777 shares of the company’s stock worth $81,000 after buying an additional 11,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Galectin Therapeutics by 21.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 56,184 shares of the company’s stock worth $90,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 11.89% 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. The company's lead product candidate is belapectin (GR-MD-02) galectin-3 inhibitor, a galactoarabino-rhamnogalacturonan polysaccharide polymer that is in Phase III clinical trial for the treatment of liver fibrosis associated with fatty liver disease and non-alcoholic steatohepatitis cirrhosis, as well as for the treatment of cancer.
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