Galectin Therapeutics (NASDAQ:GALT) Shares Pass Above Fifty Day Moving Average of $4.13

Galectin Therapeutics Inc. (NASDAQ:GALT) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $4.13 and traded as high as $3.92. Galectin Therapeutics shares last traded at $3.89, with a volume of 3,454 shares.

GALT has been the subject of several recent analyst reports. ValuEngine raised shares of Galectin Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. B. Riley initiated coverage on shares of Galectin Therapeutics in a research note on Thursday, March 7th. They issued a “buy” rating and a $11.00 target price for the company. Finally, Zacks Investment Research raised shares of Galectin Therapeutics from a “hold” rating to a “buy” rating and set a $5.25 target price for the company in a research note on Monday, March 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $9.42.

The stock has a market capitalization of $189.22 million, a PE ratio of -10.92 and a beta of 3.32. The stock’s 50 day moving average is $4.10.

Galectin Therapeutics (NASDAQ:GALT) last issued its earnings results on Friday, May 10th. The company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.06. As a group, equities research analysts anticipate that Galectin Therapeutics Inc. will post -0.45 earnings per share for the current fiscal year.

In related news, Director Richard E. Uihlein purchased 4,680,606 shares of Galectin Therapeutics stock in a transaction dated Friday, May 31st. The stock was bought at an average price of $4.28 per share, for a total transaction of $20,032,993.68. Following the completion of the acquisition, the director now directly owns 3,128,489 shares of the company’s stock, valued at $13,389,932.92. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard E. Uihlein purchased 20,700 shares of Galectin Therapeutics stock in a transaction dated Tuesday, April 9th. The stock was bought at an average price of $4.82 per share, with a total value of $99,774.00. Following the acquisition, the director now directly owns 2,628,489 shares of the company’s stock, valued at $12,669,316.98. The disclosure for this purchase can be found here. Insiders acquired 4,704,160 shares of company stock valued at $20,145,208 in the last ninety days. Insiders own 45.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in GALT. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Galectin Therapeutics in the first quarter valued at approximately $900,000. Barclays PLC boosted its holdings in shares of Galectin Therapeutics by 2,711.6% in the fourth quarter. Barclays PLC now owns 174,603 shares of the company’s stock valued at $599,000 after buying an additional 168,393 shares during the period. Laurion Capital Management LP boosted its holdings in shares of Galectin Therapeutics by 81.7% in the first quarter. Laurion Capital Management LP now owns 171,543 shares of the company’s stock valued at $877,000 after buying an additional 77,145 shares during the period. Advisor Group Inc. boosted its holdings in shares of Galectin Therapeutics by 12.8% in the fourth quarter. Advisor Group Inc. now owns 674,291 shares of the company’s stock valued at $2,313,000 after buying an additional 76,489 shares during the period. Finally, Tibra Equities Europe Ltd acquired a new position in shares of Galectin Therapeutics in the first quarter valued at approximately $371,000. Institutional investors own 15.93% of the company’s stock.

Galectin Therapeutics Company Profile (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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