Galectin Therapeutics Inc. (NASDAQ:GALT) Short Interest Down 5.5% in October

Galectin Therapeutics Inc. (NASDAQ:GALT) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,880,000 shares, a drop of 5.5% from the September 30th total of 1,990,000 shares. Currently, 4.5% of the shares of the company are short sold. Based on an average daily trading volume, of 52,400 shares, the short-interest ratio is currently 35.9 days.

Galectin Therapeutics Stock Performance

Shares of GALT opened at $2.02 on Tuesday. Galectin Therapeutics has a 52-week low of $1.02 and a 52-week high of $2.47. The business’s fifty day moving average is $1.89 and its 200-day moving average is $1.71. The firm has a market cap of $124.94 million, a price-to-earnings ratio of -3.06 and a beta of 1.27.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings results on Monday, August 14th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. As a group, research analysts forecast that Galectin Therapeutics will post -0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GALT has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Galectin Therapeutics in a research report on Tuesday, August 15th. StockNews.com started coverage on Galectin Therapeutics in a report on Monday. They set a “hold” rating for the company.

Institutional Trading of Galectin Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of GALT. Citadel Advisors LLC increased its position in shares of Galectin Therapeutics by 269.5% during the third quarter. Citadel Advisors LLC now owns 18,140 shares of the company’s stock valued at $29,000 after acquiring an additional 28,840 shares during the last quarter. Summit Trail Advisors LLC purchased a new stake in shares of Galectin Therapeutics during the second quarter valued at approximately $29,000. Centaurus Financial Inc. purchased a new stake in shares of Galectin Therapeutics during the first quarter valued at approximately $34,000. AE Wealth Management LLC increased its position in shares of Galectin Therapeutics by 72.7% during the third quarter. AE Wealth Management LLC now owns 26,841 shares of the company’s stock valued at $52,000 after acquiring an additional 11,300 shares during the last quarter. Finally, Traynor Capital Management Inc. purchased a new stake in Galectin Therapeutics in the third quarter worth $67,000. 12.24% 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, 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.