Galectin Therapeutics Inc. (NASDAQ:GALT)’s share price traded down 0.2% on Tuesday . The company traded as low as $3.85 and last traded at $4.03. 147,574 shares changed hands during trading, a decline of 61% from the average session volume of 374,404 shares. The stock had previously closed at $4.04.
A number of equities analysts recently weighed in on the stock. ValuEngine downgraded shares of Galectin Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 11th. BidaskClub upgraded shares of Galectin Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, September 5th. Finally, HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Galectin Therapeutics in a report on Thursday, August 16th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Galectin Therapeutics has an average rating of “Buy” and an average target price of $7.58.
The firm has a market capitalization of $177.57 million, a price-to-earnings ratio of -8.18 and a beta of 2.55.
In other Galectin Therapeutics news, Director Gilbert S. Omenn sold 19,370 shares of Galectin Therapeutics stock in a transaction on Monday, September 10th. The shares were sold at an average price of $6.02, for a total transaction of $116,607.40. Following the completion of the transaction, the director now directly owns 56,561 shares of the company’s stock, valued at $340,497.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Marc Rubin sold 11,900 shares of Galectin Therapeutics stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $6.58, for a total transaction of $78,302.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,370 shares of company stock worth $614,487. 45.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Argent Trust Co bought a new position in Galectin Therapeutics during the second quarter worth $133,000. A.R.T. Advisors LLC boosted its position in Galectin Therapeutics by 60.2% during the first quarter. A.R.T. Advisors LLC now owns 57,775 shares of the company’s stock worth $273,000 after purchasing an additional 21,704 shares during the period. LPL Financial LLC bought a new position in Galectin Therapeutics during the first quarter worth $112,000. First Allied Advisory Services Inc. bought a new position in Galectin Therapeutics during the second quarter worth $223,000. Finally, Renaissance Technologies LLC bought a new position in Galectin Therapeutics during the second quarter worth $237,000. 13.84% of the stock is owned by hedge funds and other 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 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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