Short Interest in Galectin Therapeutics Inc. (NASDAQ:GALT) Expands By 5.1%

Galectin Therapeutics Inc. (NASDAQ:GALT) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 2,250,000 shares, a growth of 5.1% from the March 15th total of 2,140,000 shares. Based on an average trading volume of 105,800 shares, the days-to-cover ratio is presently 21.3 days. Currently, 5.3% of the company’s stock are sold short.

Galectin Therapeutics Stock Performance

NASDAQ GALT opened at $3.38 on Thursday. The stock has a market capitalization of $209.22 million, a PE ratio of -4.57 and a beta of 0.84. The stock has a 50-day simple moving average of $2.38 and a 200 day simple moving average of $2.06. Galectin Therapeutics has a twelve month low of $1.28 and a twelve month high of $4.27.

Analysts Set New Price Targets

GALT has been the topic of a number of recent research reports. StockNews.com upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. HC Wainwright reissued a “buy” rating and set a $11.00 price objective on shares of Galectin Therapeutics in a report on Tuesday, April 9th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Retirement Guys Formula LLC lifted its position in shares of Galectin Therapeutics by 87.0% in the 4th quarter. Retirement Guys Formula LLC now owns 21,500 shares of the company’s stock worth $36,000 after acquiring an additional 10,000 shares during the period. AE Wealth Management LLC raised its stake in shares of Galectin Therapeutics by 72.7% in the third quarter. AE Wealth Management LLC now owns 26,841 shares of the company’s stock valued at $52,000 after purchasing an additional 11,300 shares in the last quarter. Beacon Capital Management LLC lifted its position in Galectin Therapeutics by 89.6% in the fourth quarter. Beacon Capital Management LLC now owns 23,905 shares of the company’s stock worth $40,000 after purchasing an additional 11,300 shares during the period. Traynor Capital Management Inc. acquired a new stake in Galectin Therapeutics during the third quarter worth $67,000. Finally, D.A. Davidson & CO. increased its holdings in Galectin Therapeutics by 15.2% in the 3rd quarter. D.A. Davidson & CO. now owns 37,825 shares of the company’s stock valued at $73,000 after buying an additional 5,000 shares during the period. 11.68% of the stock is currently owned by institutional investors and hedge funds.

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.