Galectin Therapeutics (NASDAQ:GALT) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Galectin Therapeutics Inc. (NASDAQ:GALT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.14 and traded as high as $7.13. Galectin Therapeutics shares last traded at $6.47, with a volume of 1,038,517 shares.

Analysts Set New Price Targets

Several research firms recently commented on GALT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Galectin Therapeutics in a research note on Wednesday, October 8th. HC Wainwright upped their target price on shares of Galectin Therapeutics from $6.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Galectin Therapeutics currently has an average rating of “Hold” and an average price target of $11.00.

Galectin Therapeutics Stock Performance

The firm’s fifty day moving average price is $5.54 and its 200 day moving average price is $4.14. The firm has a market cap of $417.12 million, a P/E ratio of -10.97 and a beta of 0.95.

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

Insiders Place Their Bets

In other Galectin Therapeutics news, CFO Jack W. Callicutt sold 28,629 shares of Galectin Therapeutics stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $6.07, for a total value of $173,778.03. Following the transaction, the chief financial officer owned 7,614 shares in the company, valued at $46,216.98. The trade was a 78.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harold H. Shlevin sold 159,000 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $5.98, for a total transaction of $950,820.00. Following the completion of the transaction, the director owned 11,206 shares of the company’s stock, valued at $67,011.88. This represents a 93.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 545,266 shares of company stock worth $3,110,522. Insiders own 52.60% of the company’s stock.

Institutional Trading of Galectin Therapeutics

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of Galectin Therapeutics by 101.4% during the 4th quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock worth $49,000 after acquiring an additional 19,316 shares in the last quarter. Nuveen LLC purchased a new position in Galectin Therapeutics in the first quarter worth $34,000. HighTower Advisors LLC increased its position in shares of Galectin Therapeutics by 244.1% during the first quarter. HighTower Advisors LLC now owns 77,375 shares of the company’s stock worth $94,000 after purchasing an additional 54,889 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Galectin Therapeutics by 8.8% during 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 last quarter. Finally, Retirement Guys Formula LLC boosted its position in shares of Galectin Therapeutics by 2.7% in the 2nd quarter. Retirement Guys Formula LLC now owns 159,593 shares of the company’s stock worth $337,000 after purchasing an additional 4,250 shares in the last quarter. 11.68% of the stock is currently 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.