Galectin Therapeutics (GALT) Stock Price Down 5.6%
Galectin Therapeutics Inc. (NASDAQ:GALT) shares were down 5.6% on Thursday . The stock traded as low as $3.99 and last traded at $4.01. Approximately 1,097,298 shares changed hands during mid-day trading, an increase of 198% from the average daily volume of 367,634 shares. The stock had previously closed at $4.25.
Several research analysts recently weighed in on GALT shares. ValuEngine cut shares of Galectin Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. B. Riley started coverage on shares of Galectin Therapeutics in a research report on Wednesday, February 13th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, Zacks Investment Research cut shares of Galectin Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $9.42.
The stock has a market capitalization of $183.74 million, a price-to-earnings ratio of -10.61 and a beta of 3.54.
In other Galectin Therapeutics news, Director Richard E. Uihlein purchased 20,700 shares of Galectin Therapeutics stock in a transaction on Tuesday, April 9th. The shares were acquired at an average cost of $4.82 per share, for a total transaction of $99,774.00. Following the completion of the transaction, the director now directly owns 2,628,489 shares of the company’s stock, valued at $12,669,316.98. The purchase was disclosed in a filing with the SEC, which is available at this link. 45.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. IHT Wealth Management LLC grew its position in Galectin Therapeutics by 52.7% during the first quarter. IHT Wealth Management LLC now owns 16,080 shares of the company’s stock valued at $82,000 after acquiring an additional 5,550 shares during the last quarter. MML Investors Services LLC grew its position in Galectin Therapeutics by 55.8% during the fourth quarter. MML Investors Services LLC now owns 26,926 shares of the company’s stock valued at $92,000 after acquiring an additional 9,642 shares during the last quarter. Jane Street Group LLC bought a new position in Galectin Therapeutics during the first quarter valued at approximately $113,000. Jefferies Group LLC bought a new position in Galectin Therapeutics during the first quarter valued at approximately $137,000. Finally, Stratos Wealth Partners LTD. grew its position in Galectin Therapeutics by 45.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 40,950 shares of the company’s stock valued at $140,000 after acquiring an additional 12,796 shares during the last quarter. Institutional investors and hedge funds own 14.73% of the company’s stock.
About Galectin Therapeutics (NASDAQ:GALT)
Galectin Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, skin, and cancer diseases. The company's lead product candidate includes 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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