Galectin Therapeutics (NASDAQ:GALT) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Galectin Therapeutics Inc. (NASDAQ:GALT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.00 and traded as high as $3.87. Galectin Therapeutics shares last traded at $3.50, with a volume of 494,190 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GALT. Zacks Research downgraded Galectin Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Wall Street Zen upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings raised Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of Galectin Therapeutics in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Galectin Therapeutics presently has a consensus rating of “Reduce” and a consensus target price of $11.00.

Galectin Therapeutics Stock Performance

The company’s fifty day moving average is $3.34 and its 200-day moving average is $2.99. The company has a market capitalization of $228.53 million, a PE ratio of -8.46 and a beta of 0.35.

Galectin Therapeutics (NASDAQ:GALT) last released its earnings results on Friday, May 15th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). On average, sell-side analysts expect that Galectin Therapeutics Inc. will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Harold H. Shlevin sold 22,268 shares of Galectin Therapeutics stock in a transaction on Monday, June 29th. The shares were sold at an average price of $5.04, for a total transaction of $112,230.72. Following the transaction, the director owned 6,500 shares in the company, valued at approximately $32,760. The trade was a 77.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Khurram Jamil sold 47,467 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $5.04, for a total transaction of $239,233.68. Following the completion of the transaction, the insider directly owned 2,037 shares of the company’s stock, valued at $10,266.48. This represents a 95.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 90,162 shares of company stock worth $438,464. 52.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Galectin Therapeutics

Several large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its position in shares of Galectin Therapeutics by 9,997.2% during the fourth quarter. Russell Investments Group Ltd. now owns 18,074 shares of the company’s stock worth $75,000 after purchasing an additional 17,895 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Galectin Therapeutics in the 3rd quarter worth approximately $73,000. Two Sigma Investments LP bought a new position in Galectin Therapeutics in the 3rd quarter worth approximately $70,000. Squarepoint Ops LLC bought a new position in Galectin Therapeutics in the 4th quarter worth approximately $68,000. Finally, JPMorgan Chase & Co. grew its holdings in Galectin Therapeutics by 25.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,470 shares of the company’s stock valued at $66,000 after buying an additional 3,133 shares in the last quarter. 11.68% of the stock is currently owned by hedge funds and other institutional investors.

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.