Galectin Therapeutics (GALT) Shares Up 8.1%

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.

COPYRIGHT VIOLATION NOTICE: This story was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/11/07/galectin-therapeutics-galt-shares-up-8-1.html.

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.

Read More: What does the Dow Jones Industrial Average (DJIA) measure?

Receive News & Ratings for Galectin Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Galectin Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply