Galectin Therapeutics (NASDAQ:GALT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Galectin Therapeutics (NASDAQ:GALT) from a sell rating to a hold rating in a research note released on Wednesday morning.

Separately, HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a report on Friday, November 15th.

Galectin Therapeutics Stock Up 2.2 %

Shares of GALT stock opened at $2.82 on Wednesday. The business’s fifty day moving average price is $2.69 and its 200 day moving average price is $2.60. Galectin Therapeutics has a 1-year low of $1.55 and a 1-year high of $4.27.

Institutional Investors Weigh In On Galectin Therapeutics

Institutional investors have recently modified their holdings of the company. Traynor Capital Management Inc. raised its holdings in Galectin Therapeutics by 23.5% during the second quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock worth $97,000 after purchasing an additional 8,164 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Galectin Therapeutics in the second quarter valued at approximately $43,000. Rhumbline Advisers purchased a new position in shares of Galectin Therapeutics during the 2nd quarter worth approximately $44,000. Geode Capital Management LLC raised its position in shares of Galectin Therapeutics by 2.5% during 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 last quarter. Finally, State Street Corp raised its position in shares of Galectin Therapeutics by 9.3% during the 3rd quarter. State Street Corp now owns 251,014 shares of the company’s stock worth $690,000 after purchasing an additional 21,399 shares during the last quarter. Hedge funds and other 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.