Galectin Therapeutics (NASDAQ:GALT) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Galectin Therapeutics (NASDAQ:GALT – Get Free Report) in a report issued on Tuesday. The brokerage set a “hold” rating on the stock.

Galectin Therapeutics Trading Up 15.3 %

NASDAQ:GALT opened at $1.88 on Tuesday. Galectin Therapeutics has a twelve month low of $1.02 and a twelve month high of $2.57. The company has a market cap of $111.79 million, a price-to-earnings ratio of -2.81 and a beta of 1.36. The stock has a fifty day simple moving average of $1.56 and a 200-day simple moving average of $1.63.

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Galectin Therapeutics (NASDAQ:GALT – Get Free Report) last released its earnings results on Monday, May 15th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.02. As a group, equities research analysts predict that Galectin Therapeutics will post -0.82 EPS for the current fiscal year.

Institutional Trading of Galectin Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of Galectin Therapeutics by 1.5% in the first quarter. Geode Capital Management LLC now owns 521,678 shares of the company’s stock valued at $1,096,000 after acquiring an additional 7,863 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Galectin Therapeutics in the first quarter valued at about $460,000. Millennium Management LLC raised its holdings in shares of Galectin Therapeutics by 7.8% in the fourth quarter. Millennium Management LLC now owns 260,906 shares of the company’s stock valued at $295,000 after acquiring an additional 18,959 shares in the last quarter. Wealthspire Advisors LLC bought a new stake in shares of Galectin Therapeutics in the first quarter valued at about $386,000. Finally, State Street Corp grew its stake in Galectin Therapeutics by 9.4% in the first quarter. State Street Corp now owns 173,740 shares of the company’s stock valued at $280,000 after purchasing an additional 14,981 shares during the last quarter. 12.06% of the stock is currently owned by institutional investors.

Galectin Therapeutics Company Profile

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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.

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