Galectin Therapeutics (NASDAQ:GALT) Stock Passes Above 200-Day Moving Average of $2.09

Galectin Therapeutics Inc. (NASDAQ:GALT) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.09 and traded as high as $3.55. Galectin Therapeutics shares last traded at $3.38, with a volume of 235,547 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GALT. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of Galectin Therapeutics in a report on Tuesday, April 9th. StockNews.com upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, April 1st.

Galectin Therapeutics Stock Performance

The stock has a market cap of $209.24 million, a PE ratio of -4.57 and a beta of 0.84. The stock has a fifty day moving average price of $2.51 and a 200 day moving average price of $2.09.

Institutional Investors Weigh In On Galectin Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of GALT. Solutions 4 Wealth Ltd bought a new stake in Galectin Therapeutics during the 4th quarter valued at $60,000. Retirement Guys Formula LLC raised its position in Galectin Therapeutics by 56.9% during the 1st quarter. Retirement Guys Formula LLC now owns 33,732 shares of the company’s stock valued at $81,000 after purchasing an additional 12,232 shares in the last quarter. AE Wealth Management LLC raised its position in Galectin Therapeutics by 72.7% during the 3rd 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 raised its position in Galectin Therapeutics by 89.6% during the 4th quarter. Beacon Capital Management LLC now owns 23,905 shares of the company’s stock valued at $40,000 after purchasing an additional 11,300 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in Galectin Therapeutics by 15.2% during the 3rd quarter. D.A. Davidson & CO. now owns 37,825 shares of the company’s stock valued at $73,000 after purchasing an additional 5,000 shares in the last quarter. 11.68% of the stock is owned by 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.