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

Galectin Therapeutics Inc. (NASDAQ:GALT) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.36 and traded as high as $5.90. Galectin Therapeutics shares last traded at $5.53, with a volume of 482,072 shares trading hands.

Analyst Ratings Changes

GALT has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Galectin Therapeutics in a research report on Thursday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Galectin Therapeutics in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Galectin Therapeutics Trading Down 5.1%

The firm has a 50-day moving average of $4.98 and a two-hundred day moving average of $3.36. The firm has a market cap of $356.57 million, a price-to-earnings ratio of -8.64 and a beta of 0.86.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. As a group, equities analysts anticipate that Galectin Therapeutics Inc. will post -0.73 EPS for the current year.

Insider Transactions at Galectin Therapeutics

In related news, major shareholder Fund L.P. 10X sold 50,000 shares of the business’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $4.94, for a total transaction of $247,000.00. Following the transaction, the insider owned 5,872,207 shares of the company’s stock, valued at approximately $29,008,702.58. The trade was a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Joel Lewis sold 14,420 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $6.07, for a total transaction of $87,529.40. Following the transaction, the chief executive officer owned 832,592 shares of the company’s stock, valued at approximately $5,053,833.44. The trade was a 1.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 121,065 shares of company stock worth $685,325. Insiders own 52.60% of the company’s stock.

Institutional Investors Weigh In On Galectin Therapeutics

Several hedge funds have recently made changes to their positions in the stock. Nuveen LLC acquired a new stake in Galectin Therapeutics during the first quarter worth about $34,000. Atwood & Palmer Inc. bought a new stake in shares of Galectin Therapeutics in the 3rd quarter worth approximately $42,000. Archer Investment Corp bought a new stake in shares of Galectin Therapeutics in the 3rd quarter worth approximately $47,000. Bank of America Corp DE grew its holdings 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 worth $49,000 after purchasing an additional 19,316 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Galectin Therapeutics during the second quarter valued at approximately $64,000. Institutional investors own 11.68% of the company’s stock.

About Galectin Therapeutics

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.