Galectin Therapeutics Inc. (NASDAQ:GALT)’s stock price fell 0.3% during trading on Thursday . The company traded as low as $2.95 and last traded at $3.02, 24,670 shares traded hands during trading. A decline of 93% from the average session volume of 330,704 shares. The stock had previously closed at $3.03.
Separately, Zacks Investment Research downgraded shares of Galectin Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, November 18th.
The firm has a market cap of $172.37 million, a P/E ratio of -7.96 and a beta of 2.99. The stock has a fifty day simple moving average of $3.62 and a 200 day simple moving average of $3.73.
In other news, major shareholder Fund L.P. 10X sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3.73, for a total transaction of $63,410.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 40.70% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in GALT. BlackRock Inc. boosted its holdings in shares of Galectin Therapeutics by 243.4% in the second quarter. BlackRock Inc. now owns 2,045,111 shares of the company’s stock worth $8,486,000 after buying an additional 1,449,610 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Galectin Therapeutics by 7.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,734,324 shares of the company’s stock worth $7,197,000 after acquiring an additional 125,092 shares during the last quarter. Advisor Group Inc. grew its position in shares of Galectin Therapeutics by 16.5% during the 2nd quarter. Advisor Group Inc. now owns 807,175 shares of the company’s stock valued at $3,350,000 after acquiring an additional 114,586 shares during the period. Cutter & CO Brokerage Inc. bought a new stake in shares of Galectin Therapeutics during the 2nd quarter valued at $370,000. Finally, Bank of New York Mellon Corp grew its position in shares of Galectin Therapeutics by 392.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 95,315 shares of the company’s stock valued at $395,000 after acquiring an additional 75,963 shares during the period. Hedge funds and other institutional investors own 16.43% 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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