Galectin Therapeutics (NASDAQ:GALT) Downgraded to Sell Rating by StockNews.com

Galectin Therapeutics (NASDAQ:GALT) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Separately, HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Galectin Therapeutics in a research note on Friday, August 16th.

Galectin Therapeutics Trading Up 2.4 %

Shares of NASDAQ:GALT traded up $0.07 during trading on Tuesday, hitting $2.96. 116,156 shares of the company’s stock traded hands, compared to its average volume of 145,245. Galectin Therapeutics has a 52 week low of $1.55 and a 52 week high of $4.27. The company has a market cap of $184.34 million, a price-to-earnings ratio of -3.75 and a beta of 0.62. The company has a 50-day moving average price of $2.66 and a 200-day moving average price of $2.63.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). On average, analysts predict that Galectin Therapeutics will post -0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GALT. Vanguard Group Inc. increased its position in shares of Galectin Therapeutics by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock worth $4,732,000 after purchasing an additional 38,037 shares during the last quarter. Traynor Capital Management Inc. increased its holdings in shares of Galectin Therapeutics by 23.5% during the 2nd quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock worth $97,000 after acquiring an additional 8,164 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Galectin Therapeutics during the 2nd quarter worth approximately $146,000. Commonwealth Equity Services LLC increased its holdings in shares of Galectin Therapeutics by 317.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after acquiring an additional 367,610 shares during the last quarter. Finally, Rhumbline Advisers acquired a new position in shares of Galectin Therapeutics during the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 11.68% of the company’s stock.

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.