ValuEngine cut shares of Galectin Therapeutics (NASDAQ:GALT) from a buy rating to a hold rating in a report published on Friday morning.
Shares of NASDAQ GALT opened at $4.14 on Friday. The firm has a market cap of $172.38 million, a PE ratio of -8.45 and a beta of 3.76. Galectin Therapeutics has a twelve month low of $3.10 and a twelve month high of $9.49.
Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings results on Tuesday, November 13th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. On average, research analysts anticipate that Galectin Therapeutics will post -0.38 EPS for the current year.
In other news, Director Richard E. Uihlein purchased 51,500 shares of Galectin Therapeutics stock in a transaction dated Tuesday, January 29th. The shares were bought at an average cost of $4.87 per share, with a total value of $250,805.00. Following the completion of the transaction, the director now directly owns 2,538,289 shares in the company, valued at approximately $12,361,467.43. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gilbert F. Amelio sold 30,000 shares of Galectin Therapeutics stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $5.00, for a total transaction of $150,000.00. The disclosure for this sale can be found here. Company insiders own 45.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Galectin Therapeutics by 0.4% during the fourth quarter. BlackRock Inc. now owns 604,268 shares of the company’s stock worth $2,073,000 after purchasing an additional 2,611 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Galectin Therapeutics by 45.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 40,950 shares of the company’s stock worth $140,000 after purchasing an additional 12,796 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Galectin Therapeutics during the third quarter worth $107,000. Wells Fargo & Company MN boosted its position in shares of Galectin Therapeutics by 45.7% during the third quarter. Wells Fargo & Company MN now owns 58,471 shares of the company’s stock worth $352,000 after purchasing an additional 18,336 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of Galectin Therapeutics by 4.3% during the fourth quarter. D.A. Davidson & CO. now owns 718,923 shares of the company’s stock worth $2,466,000 after purchasing an additional 29,645 shares in the last quarter. 14.76% of the stock is currently owned by institutional investors.
About Galectin Therapeutics
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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