Galectin Therapeutics (NASDAQ:GALT) Raised to Hold at StockNews.com

Galectin Therapeutics (NASDAQ:GALT) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Galectin Therapeutics in a research report on Friday, November 15th.

Galectin Therapeutics Trading Up 2.4 %

GALT stock opened at $2.76 on Wednesday. The company has a market capitalization of $172.90 million, a PE ratio of -3.77 and a beta of 0.62. Galectin Therapeutics has a 12-month low of $1.55 and a 12-month high of $4.27. The business’s fifty day moving average price is $2.69 and its 200 day moving average price is $2.60.

Institutional Trading of Galectin Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in GALT. Marshall Wace LLP acquired a new stake in shares of Galectin Therapeutics in the 2nd quarter worth approximately $43,000. Rhumbline Advisers acquired a new stake in shares of Galectin Therapeutics during the second quarter worth $44,000. Gladstone Institutional Advisory LLC purchased a new position in shares of Galectin Therapeutics in the 3rd quarter worth $60,000. Barclays PLC raised its position in shares of Galectin Therapeutics by 309.0% in the 3rd quarter. Barclays PLC now owns 28,587 shares of the company’s stock worth $79,000 after buying an additional 21,598 shares during the period. Finally, Traynor Capital Management Inc. raised its position in shares of Galectin Therapeutics by 23.5% in the 2nd quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock worth $97,000 after buying an additional 8,164 shares during the period. 11.68% of the stock is owned by hedge funds and other institutional investors.

About Galectin Therapeutics

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.