Galectin Therapeutics (NASDAQ:GALT) Stock Price Breaks Above 200-Day Moving Average – Time to Sell?

Galectin Therapeutics Inc. (NASDAQ:GALT)’s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $3.22 and traded as high as $4.00. Galectin Therapeutics shares last traded at $3.91, with a volume of 174,207 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GALT shares. Zacks Research upgraded shares of Galectin Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Galectin Therapeutics in a report on Monday, September 14th. Finally, HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of Galectin Therapeutics in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.00.

Galectin Therapeutics Trading Down 3.1%

The stock has a fifty day simple moving average of $3.73 and a two-hundred day simple moving average of $3.22. The firm has a market cap of $247.63 million, a PE ratio of -8.74 and a beta of 0.38.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). As a group, sell-side analysts predict that Galectin Therapeutics Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Galectin Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Argyle Capital Partners LLC purchased a new stake in shares of Galectin Therapeutics in the 2nd quarter valued at about $62,000. Archer Investment Corp bought a new position in shares of Galectin Therapeutics in the second quarter worth approximately $81,000. Tulsa Wealth Advisors INC purchased a new stake in Galectin Therapeutics in the fourth quarter valued at approximately $97,000. Bank of America Corp DE lifted its position in Galectin Therapeutics by 114.9% during the first quarter. Bank of America Corp DE now owns 53,862 shares of the company’s stock valued at $150,000 after purchasing an additional 28,799 shares during the last quarter. Finally, Hopwood Nicholas Hunter bought a new stake in Galectin Therapeutics during the second quarter valued at approximately $322,000. Institutional investors own 11.68% of the company’s stock.

Galectin Therapeutics Company Profile

Galectin Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing therapies that target galectin-3, a protein associated with fibrosis, inflammation and immune-system regulation. The company’s research is aimed at addressing serious diseases for which treatment options remain limited.

Its lead product candidate is belapectin, an investigational galectin-3 inhibitor designed to reduce fibrotic activity and potentially improve liver-related complications. Galectin Therapeutics has primarily evaluated belapectin in patients with metabolic dysfunction-associated steatohepatotic cirrhosis, formerly referred to as nonalcoholic steatohepatitis cirrhosis, including complications such as portal hypertension and esophageal varices.

Galectin Therapeutics conducts its development activities through clinical research and collaborations in the United States and other relevant markets.