Investors Buy Large Volume of Galectin Therapeutics Put Options (NASDAQ:GALT)

Galectin Therapeutics Inc. (NASDAQ:GALT) was the target of some unusual options trading activity on Monday. Traders purchased 14,331 put options on the stock. This represents an increase of approximately 557% compared to the average volume of 2,182 put options.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a research note on Friday, November 15th. StockNews.com raised shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

Galectin Therapeutics Stock Performance

Galectin Therapeutics stock opened at $2.31 on Tuesday. The stock has a market cap of $144.98 million, a PE ratio of -3.16 and a beta of 0.69. The stock has a fifty day moving average of $2.58 and a 200 day moving average of $2.52. Galectin Therapeutics has a one year low of $1.55 and a one year high of $4.27.

Hedge Funds Weigh In On Galectin Therapeutics

Several institutional investors have recently made changes to their positions in GALT. Traynor Capital Management Inc. grew its position in Galectin Therapeutics by 23.5% during the second quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock valued at $97,000 after buying an additional 8,164 shares during the period. Marshall Wace LLP bought a new stake in shares of Galectin Therapeutics during the 2nd quarter valued at $43,000. Rhumbline Advisers purchased a new stake in shares of Galectin Therapeutics in the 2nd quarter worth $44,000. Geode Capital Management LLC raised its holdings in Galectin Therapeutics by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock worth $2,372,000 after purchasing an additional 20,817 shares during the period. Finally, State Street Corp lifted its position in Galectin Therapeutics by 9.3% during the third quarter. State Street Corp now owns 251,014 shares of the company’s stock valued at $690,000 after purchasing an additional 21,399 shares in the last quarter. Institutional investors 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.