Galena Biopharma Inc (GALE) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS
Galena Biopharma Inc (NASDAQ:GALE) issued its quarterly earnings results on Monday. The biotechnology company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.01, Morningstar.com reports. During the same period in the previous year, the business earned $0.05 earnings per share.
Galena Biopharma (NASDAQ GALE) traded down 3.4146% on Tuesday, reaching $0.3564. The company’s stock had a trading volume of 364,843 shares. The firm’s market capitalization is $13.34 million. Galena Biopharma has a 52-week low of $0.26 and a 52-week high of $9.10. The firm has a 50-day moving average price of $0.54 and a 200 day moving average price of $0.64.
Several brokerages recently weighed in on GALE. Maxim Group reaffirmed a “hold” rating on shares of Galena Biopharma in a report on Wednesday, August 9th. Zacks Investment Research downgraded Galena Biopharma from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, ValuEngine downgraded Galena Biopharma from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GALE. Renaissance Technologies LLC bought a new position in Galena Biopharma during the first quarter worth about $976,000. Vanguard Group Inc. raised its position in Galena Biopharma by 1.0% in the second quarter. Vanguard Group Inc. now owns 1,332,434 shares of the biotechnology company’s stock worth $774,000 after buying an additional 13,302 shares in the last quarter. Finally, Virtu KCG Holdings LLC raised its position in shares of Galena Biopharma by 677.4% in the second quarter. Virtu KCG Holdings LLC now owns 224,050 shares of the biotechnology company’s stock worth $130,000 after buying an additional 195,230 shares during the period. Institutional investors and hedge funds own 21.73% of the company’s stock.
About Galena Biopharma
Galena Biopharma, Inc is a biopharmaceutical company. The Company focuses on developing and commercializing targeted oncology therapeutics that address unmet medical needs. The Company’s development portfolio ranges from mid- to late-stage clinical assets, including cancer immunotherapy program led by NeuVax (nelipepimut-S), GALE-301 and GALE-302.
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