Charles Schwab Investment Management Inc. Cuts Holdings in Galectin Therapeutics Inc. $GALT

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Galectin Therapeutics Inc. (NASDAQ:GALT) by 64.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,913 shares of the company’s stock after selling 42,160 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Galectin Therapeutics were worth $28,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GALT. Northern Trust Corp boosted its position in Galectin Therapeutics by 4.3% during the fourth quarter. Northern Trust Corp now owns 244,274 shares of the company’s stock valued at $315,000 after purchasing an additional 9,994 shares in the last quarter. Sovran Advisors LLC boosted its position in Galectin Therapeutics by 7.4% during the first quarter. Sovran Advisors LLC now owns 199,830 shares of the company’s stock valued at $244,000 after purchasing an additional 13,816 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Galectin Therapeutics by 46.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 51,510 shares of the company’s stock valued at $66,000 after purchasing an additional 16,412 shares in the last quarter. Bank of America Corp DE boosted its position in Galectin Therapeutics by 101.4% during the fourth quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock valued at $49,000 after purchasing an additional 19,316 shares in the last quarter. Finally, Vivaldi Capital Management LP boosted its position in Galectin Therapeutics by 89.9% during the fourth quarter. Vivaldi Capital Management LP now owns 45,628 shares of the company’s stock valued at $56,000 after purchasing an additional 21,596 shares in the last quarter. 11.68% of the stock is owned by hedge funds and other institutional investors.

Galectin Therapeutics Stock Up 4.0%

Galectin Therapeutics stock opened at $4.67 on Friday. Galectin Therapeutics Inc. has a 52 week low of $0.73 and a 52 week high of $4.70. The company has a market capitalization of $299.16 million, a price-to-earnings ratio of -7.30 and a beta of 0.86. The stock has a 50-day moving average price of $3.32 and a 200 day moving average price of $2.14.

Galectin Therapeutics (NASDAQ:GALT) last released its earnings results on Thursday, August 14th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. Research analysts anticipate that Galectin Therapeutics Inc. will post -0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GALT shares. Wall Street Zen raised Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 21st. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of Galectin Therapeutics in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $6.00.

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.