Galectin Therapeutics Inc. (NASDAQ:GALT) shot up 8.1% on Monday . The company traded as high as $6.16 and last traded at $5.48. 1,235,704 shares were traded during trading, an increase of 74% from the average session volume of 708,865 shares. The stock had previously closed at $5.07.
A number of research firms have weighed in on GALT. BidaskClub raised shares of Galectin Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, September 5th. ValuEngine raised shares of Galectin Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 29th. Finally, HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Galectin Therapeutics in a report on Thursday, August 16th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Galectin Therapeutics currently has a consensus rating of “Buy” and an average target price of $7.58.
The company has a market cap of $207.43 million, a P/E ratio of -9.98 and a beta of 2.76.
Galectin Therapeutics (NASDAQ:GALT) last posted its quarterly earnings data on Tuesday, August 14th. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.01). As a group, equities research analysts forecast that Galectin Therapeutics Inc. will post -0.44 EPS for the current fiscal year.
In other news, Director Marc Rubin sold 58,100 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $6.08, for a total value of $353,248.00. Following the sale, the director now directly owns 84,581 shares of the company’s stock, valued at approximately $514,252.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gilbert S. Omenn sold 11,000 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $6.03, for a total transaction of $66,330.00. Following the completion of the sale, the director now directly owns 56,561 shares in the company, valued at $341,062.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,370 shares of company stock worth $614,487. Insiders own 45.20% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in shares of Galectin Therapeutics by 45.7% in the 3rd quarter. Wells Fargo & Company MN now owns 58,471 shares of the company’s stock valued at $352,000 after purchasing an additional 18,336 shares during the last quarter. Argent Trust Co bought a new stake in shares of Galectin Therapeutics in the 2nd quarter valued at $133,000. Renaissance Technologies LLC bought a new stake in shares of Galectin Therapeutics in the 2nd quarter valued at $237,000. ING Groep NV bought a new position in Galectin Therapeutics during the second quarter worth $318,000. Finally, BlackRock Inc. boosted its stake in Galectin Therapeutics by 199.9% during the second quarter. BlackRock Inc. now owns 588,308 shares of the company’s stock worth $3,742,000 after acquiring an additional 392,151 shares in the last quarter. 13.85% of the stock is currently owned by institutional investors.
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About Galectin Therapeutics (NASDAQ:GALT)
Galectin Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic disease, skin disease, and cancer. The company's lead product candidate includes galectin-3 inhibitor (GR-MD-02), a galactoarabino-rhamnogalacturonan polysaccharide polymer for the treatment of liver fibrosis and liver cirrhosis in non-alcoholic steatohepatitis patients, as well as for the treatment of cancer.
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