Galectin Therapeutics (NASDAQ:GALT) Shares Cross Above 200 Day Moving Average – Time to Sell?

Galectin Therapeutics Inc. (NASDAQ:GALT) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.70 and traded as high as $5.85. Galectin Therapeutics shares last traded at $5.8990, with a volume of 101,423 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GALT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Galectin Therapeutics in a research note on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Galectin Therapeutics in a report on Thursday, August 14th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Galectin Therapeutics has an average rating of “Hold” and a consensus price target of $6.00.

Galectin Therapeutics Trading Up 2.4%

The firm has a market cap of $380.33 million, a P/E ratio of -9.22 and a beta of 0.86. The company’s 50-day moving average is $5.17 and its two-hundred day moving average is $3.70.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Research analysts anticipate that Galectin Therapeutics Inc. will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Galectin Therapeutics news, CEO Joel Lewis sold 14,420 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $6.07, for a total transaction of $87,529.40. Following the transaction, the chief executive officer directly owned 832,592 shares in the company, valued at approximately $5,053,833.44. This trade represents a 1.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Khurram Jamil sold 121,117 shares of Galectin Therapeutics stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $5.47, for a total transaction of $662,509.99. Following the transaction, the insider directly owned 4,479 shares in the company, valued at $24,500.13. This represents a 96.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 242,182 shares of company stock valued at $1,347,835. 52.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Galectin Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Galectin Therapeutics by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,247,967 shares of the company’s stock worth $9,520,000 after buying an additional 63,419 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in Galectin Therapeutics by 3.4% during the second quarter. Osaic Holdings Inc. now owns 1,265,384 shares of the company’s stock worth $2,670,000 after acquiring an additional 41,968 shares during the period. Jane Street Group LLC purchased a new position in Galectin Therapeutics in the second quarter worth $1,580,000. Wealthspire Advisors LLC boosted its position in Galectin Therapeutics by 20.4% in the second quarter. Wealthspire Advisors LLC now owns 479,518 shares of the company’s stock worth $1,012,000 after purchasing an additional 81,144 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Galectin Therapeutics by 8.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 423,235 shares of the company’s stock valued at $516,000 after purchasing an additional 34,300 shares during the period. 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, 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.