Galectin Therapeutics (NASDAQ:GALT) Announces Quarterly Earnings Results

Galectin Therapeutics (NASDAQ:GALT) issued its quarterly earnings data on Friday. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02), FiscalAI reports.

Galectin Therapeutics Trading Down 7.7%

NASDAQ:GALT traded down $0.18 during trading hours on Friday, reaching $2.17. The company had a trading volume of 366,269 shares, compared to its average volume of 342,632. Galectin Therapeutics has a 52 week low of $1.21 and a 52 week high of $7.13. The firm has a market cap of $142.85 million, a price-to-earnings ratio of -4.52 and a beta of 0.45. The firm’s 50 day moving average price is $2.59 and its 200-day moving average price is $3.70.

Institutional Investors Weigh In On Galectin Therapeutics

A number of large investors have recently added to or reduced their stakes in GALT. Royal Bank of Canada boosted its stake in shares of Galectin Therapeutics by 1,197.3% during the 4th quarter. Royal Bank of Canada now owns 6,175 shares of the company’s stock worth $25,000 after acquiring an additional 5,699 shares during the last quarter. Invesco Ltd. purchased a new position in shares of Galectin Therapeutics during the 4th quarter valued at $43,000. Bank of America Corp DE lifted its stake in shares of Galectin Therapeutics by 101.4% during the 4th quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock valued at $49,000 after buying an additional 19,316 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of Galectin Therapeutics during the 4th quarter valued at $59,000. Finally, Marshall Wace LLP bought a new stake in Galectin Therapeutics in the 2nd quarter valued at $64,000. Institutional investors own 11.68% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Galectin Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.00.

Galectin Therapeutics Company Profile

Galectin Therapeutics, Inc is a clinical-stage biotechnology company focused on the development of novel therapies that target galectin proteins, which are implicated in fibrotic, inflammatory and malignant diseases. The company’s lead product candidate, belapectin (formerly GR-MD-02), is a galectin-3 inhibitor being evaluated in Phase 2 clinical trials for nonalcoholic steatohepatitis (NASH) with cirrhosis. In addition to its core pipeline in fibrotic liver disease, Galectin Therapeutics continues to explore the potential of its galectin inhibitors in oncology and other indications driven by abnormal tissue remodeling.

Founded in 2000, the company is headquartered in Norcross, Georgia, where it oversees discovery research, preclinical studies and clinical trial coordination.