Galectin Therapeutics Inc. (NASDAQ:GALT) Short Interest Update

Galectin Therapeutics Inc. (NASDAQ:GALTGet Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 3,730,000 shares, an increase of 19.6% from the April 30th total of 3,120,000 shares. Approximately 8.8% of the company’s stock are sold short. Based on an average daily volume of 182,900 shares, the short-interest ratio is currently 20.4 days.

Galectin Therapeutics Stock Performance

Shares of Galectin Therapeutics stock remained flat at $2.72 during trading on Friday. The stock had a trading volume of 91,996 shares, compared to its average volume of 140,837. The stock has a 50 day moving average price of $3.18 and a two-hundred day moving average price of $2.31. Galectin Therapeutics has a twelve month low of $1.28 and a twelve month high of $4.27.

Galectin Therapeutics (NASDAQ:GALTGet Free Report) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). Research analysts forecast that Galectin Therapeutics will post -0.66 earnings per share for the current year.

Insider Activity at Galectin Therapeutics

In related news, major shareholder James C. Czirr sold 21,323 shares of Galectin Therapeutics stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $3.06, for a total transaction of $65,248.38. Following the completion of the sale, the insider now owns 5,925,884 shares of the company’s stock, valued at $18,133,205.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders bought 4,500 shares of company stock valued at $14,360. Insiders own 52.70% of the company’s stock.

Hedge Funds Weigh In On Galectin Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Retirement Guys Formula LLC boosted its holdings in Galectin Therapeutics by 87.0% during the fourth quarter. Retirement Guys Formula LLC now owns 21,500 shares of the company’s stock valued at $36,000 after purchasing an additional 10,000 shares in the last quarter. Beacon Capital Management LLC boosted its holdings in Galectin Therapeutics by 89.6% during the fourth quarter. Beacon Capital Management LLC now owns 23,905 shares of the company’s stock valued at $40,000 after purchasing an additional 11,300 shares in the last quarter. Solutions 4 Wealth Ltd acquired a new stake in Galectin Therapeutics during the fourth quarter valued at approximately $60,000. D.A. Davidson & CO. boosted its holdings in Galectin Therapeutics by 15.2% during the third quarter. D.A. Davidson & CO. now owns 37,825 shares of the company’s stock valued at $73,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its holdings in Galectin Therapeutics by 116.7% during the first quarter. Wealthspire Advisors LLC now owns 398,374 shares of the company’s stock valued at $952,000 after purchasing an additional 214,512 shares in the last quarter. 11.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. StockNews.com cut Galectin Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Galectin Therapeutics in a research note on Tuesday, April 9th.

Check Out Our Latest Stock Report on GALT

About Galectin Therapeutics

(Get Free Report)

Galectin Therapeutics Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, cancer, and other diseases. Its lead product candidate is belapectin (GR-MD-02) galectin-3 inhibitor, that is in Phase 2b/3 clinical trial, to prevent esophageal varices in patient with non-alcoholic steatohepatitis (NASH) cirrhosis; and Phase 2 clinical trial for the treatment of liver fibrosis, as well as severe skin disease, and melanoma and head and neck squamous cell carcinoma.

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