Galectin Therapeutics (NASDAQ:GALT) Announces Earnings Results

Galectin Therapeutics (NASDAQ:GALT) released its quarterly earnings results on Friday. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05), FiscalAI reports.

Galectin Therapeutics Price Performance

Shares of Galectin Therapeutics stock opened at $3.44 on Friday. The stock has a market cap of $226.56 million, a PE ratio of -8.39 and a beta of 0.41. The firm has a fifty day moving average price of $3.61 and a 200 day moving average price of $2.99. Galectin Therapeutics has a 1 year low of $2.03 and a 1 year high of $7.13.

Analysts Set New Price Targets

Several research firms have issued reports on GALT. Weiss Ratings raised shares of Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of Galectin Therapeutics in a research report on Tuesday, June 23rd. Wall Street Zen raised shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Zacks Research raised Galectin Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Galectin Therapeutics presently has a consensus rating of “Hold” and an average target price of $11.00.

Insider Buying and Selling at Galectin Therapeutics

In other Galectin Therapeutics news, Director Harold H. Shlevin sold 22,268 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $5.04, for a total transaction of $112,230.72. Following the sale, the director directly owned 6,500 shares of the company’s stock, valued at approximately $32,760. This trade represents a 77.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Khurram Jamil sold 47,467 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $5.04, for a total value of $239,233.68. Following the sale, the insider directly owned 2,037 shares in the company, valued at $10,266.48. This represents a 95.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 90,162 shares of company stock worth $438,464. 52.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Galectin Therapeutics

Several hedge funds have recently bought and sold shares of GALT. Virtu Financial LLC increased its holdings in shares of Galectin Therapeutics by 37.4% during the 4th quarter. Virtu Financial LLC now owns 53,551 shares of the company’s stock valued at $223,000 after purchasing an additional 14,583 shares in the last quarter. Invesco Ltd. purchased a new stake in Galectin Therapeutics during the fourth quarter worth $43,000. XTX Topco Ltd purchased a new stake in Galectin Therapeutics during the fourth quarter worth $216,000. Wellington Management Group LLP purchased a new stake in Galectin Therapeutics during the fourth quarter worth $592,000. Finally, Millennium Management LLC grew its position in Galectin Therapeutics by 113.3% during the fourth quarter. Millennium Management LLC now owns 235,508 shares of the company’s stock valued at $980,000 after buying an additional 125,086 shares during the period. Hedge funds and other institutional investors own 11.68% of the company’s stock.

About Galectin Therapeutics

Galectin Therapeutics, Inc is a clinical-stage biotechnology company focused on the development of novel therapies that target galectin proteins, which are implicated in fibrotic, inflammatory and malignant diseases. The company’s lead product candidate, belapectin (formerly GR-MD-02), is a galectin-3 inhibitor being evaluated in Phase 2 clinical trials for nonalcoholic steatohepatitis (NASH) with cirrhosis. In addition to its core pipeline in fibrotic liver disease, Galectin Therapeutics continues to explore the potential of its galectin inhibitors in oncology and other indications driven by abnormal tissue remodeling.

Founded in 2000, the company is headquartered in Norcross, Georgia, where it oversees discovery research, preclinical studies and clinical trial coordination.