Galectin Therapeutics (NASDAQ:GALT) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

Galectin Therapeutics Inc. (NASDAQ:GALT)’s share price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $3.22 and traded as low as $2.91. Galectin Therapeutics shares last traded at $2.97, with a volume of 396,557 shares traded.

Analysts Set New Price Targets

Several analysts recently issued reports on GALT shares. Zacks Research upgraded shares of Galectin Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Galectin Therapeutics in a research report on Monday, September 14th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.00.

Galectin Therapeutics Trading Up 5.4%

The firm has a market capitalization of $206.80 million, a P/E ratio of -7.30 and a beta of 0.53. The firm has a 50-day moving average of $3.74 and a two-hundred day moving average of $3.22.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). On average, sell-side analysts anticipate that Galectin Therapeutics Inc. will post -0.30 EPS for the current fiscal year.

Institutional Investors Weigh In On Galectin Therapeutics

A number of hedge funds have recently made changes to their positions in GALT. Russell Investments Group Ltd. grew its holdings in shares of Galectin Therapeutics by 101.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,001 shares of the company’s stock valued at $31,000 after purchasing an additional 4,027 shares during the last quarter. Argyle Capital Partners LLC bought a new position in Galectin Therapeutics in the 2nd quarter valued at approximately $62,000. Archer Investment Corp bought a new position in Galectin Therapeutics in the 2nd quarter valued at approximately $81,000. Bank of America Corp DE lifted its stake in Galectin Therapeutics by 114.9% in the 1st quarter. Bank of America Corp DE now owns 53,862 shares of the company’s stock valued at $150,000 after purchasing an additional 28,799 shares during the last quarter. Finally, Hopwood Nicholas Hunter acquired a new stake in Galectin Therapeutics in the second quarter valued at approximately $322,000. 11.68% of the stock is currently owned by institutional investors and hedge funds.

Galectin Therapeutics Company Profile

Galectin Therapeutics Inc is a clinical-stage biotechnology company focused on developing therapies that target galectin-3, a protein associated with fibrosis, inflammation and immune regulation. The company’s research is aimed at treating serious chronic diseases in which galectin-3 may contribute to disease progression.

Its lead investigational product is belapectin, also known as GR-MD-02, a galectin-3 inhibitor being studied primarily for liver diseases, including nonalcoholic steatohepatitis (NASH), now commonly referred to as metabolic dysfunction-associated steatohepatitis (MASH), and related cirrhosis complications such as portal hypertension.