Galectin Therapeutics (NASDAQ:GALT) Stock Passes Above 200 Day Moving Average – What’s Next?

Shares of Galectin Therapeutics Inc. (NASDAQ:GALT) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.57 and traded as high as $4.45. Galectin Therapeutics shares last traded at $4.25, with a volume of 227,153 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GALT shares. Wall Street Zen upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 21st. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Galectin Therapeutics in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $6.00.

Galectin Therapeutics Trading Up 1.7%

The firm has a 50-day moving average of $4.20 and a 200 day moving average of $2.57. The company has a market cap of $272.26 million, a P/E ratio of -6.64 and a beta of 0.85.

Galectin Therapeutics (NASDAQ:GALT) last announced its earnings results on Thursday, August 14th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.04. On average, equities analysts predict that Galectin Therapeutics Inc. will post -0.73 EPS for the current year.

Insider Buying and Selling

In related news, CEO Joel Lewis sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $6.36, for a total transaction of $89,040.00. Following the transaction, the chief executive officer directly owned 832,592 shares of the company’s stock, valued at approximately $5,295,285.12. This represents a 1.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jack W. Callicutt sold 8,706 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $6.44, for a total value of $56,066.64. Following the transaction, the chief financial officer directly owned 7,614 shares in the company, valued at approximately $49,034.16. This trade represents a 53.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 50.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GALT. Nuveen LLC acquired a new position in Galectin Therapeutics during the 1st quarter worth approximately $34,000. Bank of America Corp DE raised its stake in shares of Galectin Therapeutics by 101.4% in the fourth quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock worth $49,000 after purchasing an additional 19,316 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Galectin Therapeutics in the second quarter worth approximately $64,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Galectin Therapeutics by 46.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 51,510 shares of the company’s stock worth $66,000 after purchasing an additional 16,412 shares during the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Galectin Therapeutics by 226.6% in the second quarter. XTX Topco Ltd now owns 42,805 shares of the company’s stock worth $90,000 after purchasing an additional 29,699 shares during the last quarter. 11.68% of the stock is owned by institutional investors and hedge funds.

Galectin Therapeutics Company Profile

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.