Galectin Therapeutics (NASDAQ:GALT) Stock Passes Above 200-Day Moving Average of $4.13

Galectin Therapeutics Inc. (NASDAQ:GALT)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.13 and traded as high as $3.93. Galectin Therapeutics shares last traded at $3.81, with a volume of 147,617 shares.

Separately, Zacks Investment Research raised shares of Galectin Therapeutics from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research note on Thursday, August 15th.

The company’s 50-day moving average price is $3.42 and its two-hundred day moving average price is $4.13. The company has a market cap of $201.60 million, a P/E ratio of -10.21 and a beta of 3.04.

Galectin Therapeutics (NASDAQ:GALT) last released its earnings results on Friday, August 9th. The company reported ($0.06) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. As a group, analysts forecast that Galectin Therapeutics Inc. will post -0.31 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cutter & CO Brokerage Inc. bought a new stake in shares of Galectin Therapeutics in the 2nd quarter worth about $370,000. WINTON GROUP Ltd increased its position in shares of Galectin Therapeutics by 37.5% in the 2nd quarter. WINTON GROUP Ltd now owns 40,279 shares of the company’s stock worth $167,000 after purchasing an additional 10,986 shares during the last quarter. Advisor Group Inc. increased its position in shares of Galectin Therapeutics by 16.5% in the 2nd quarter. Advisor Group Inc. now owns 807,175 shares of the company’s stock worth $3,350,000 after purchasing an additional 114,586 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Galectin Therapeutics in the 1st quarter worth about $138,000. Finally, BT Wealth Management LLC increased its position in shares of Galectin Therapeutics by 14.0% in the 2nd quarter. BT Wealth Management LLC now owns 57,009 shares of the company’s stock worth $189,000 after purchasing an additional 7,009 shares during the last quarter. 14.93% of the stock is owned by institutional investors.

About Galectin Therapeutics (NASDAQ:GALT)

Galectin Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, skin, and cancer diseases. The company's lead product candidate includes GR-MD-02 galectin-3 inhibitor, a galactoarabino-rhamnogalacturonan polysaccharide polymer that is in Phase III clinical trial for the treatment of liver fibrosis associated with fatty liver disease and non-alcoholic steatohepatitis cirrhosis, as well as for the treatment of cancer.

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