PNC Financial Services Group Inc. Acquires New Position in Galectin Therapeutics Inc. (NASDAQ:GALT)

PNC Financial Services Group Inc. acquired a new stake in shares of Galectin Therapeutics Inc. (NASDAQ:GALT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,000 shares of the company’s stock, valued at approximately $26,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GALT. Barclays PLC raised its holdings in Galectin Therapeutics by 309.0% during the 3rd quarter. Barclays PLC now owns 28,587 shares of the company’s stock valued at $79,000 after acquiring an additional 21,598 shares during the period. JPMorgan Chase & Co. grew its position in shares of Galectin Therapeutics by 161.3% in the third quarter. JPMorgan Chase & Co. now owns 30,628 shares of the company’s stock valued at $84,000 after purchasing an additional 18,907 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Galectin Therapeutics during the 3rd quarter valued at $117,000. Bank of New York Mellon Corp lifted its holdings in Galectin Therapeutics by 19.0% during the 4th quarter. Bank of New York Mellon Corp now owns 50,826 shares of the company’s stock worth $66,000 after purchasing an additional 8,105 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Galectin Therapeutics by 46.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,369 shares of the company’s stock worth $66,000 after purchasing an additional 16,271 shares in the last quarter. Institutional investors own 11.68% of the company’s stock.

Galectin Therapeutics Stock Performance

GALT stock opened at $1.68 on Friday. Galectin Therapeutics Inc. has a 52 week low of $0.73 and a 52 week high of $4.27. The firm’s fifty day moving average is $1.45 and its 200 day moving average is $1.99. The firm has a market cap of $105.44 million, a P/E ratio of -2.30 and a beta of 0.69.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GALT. StockNews.com lowered shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, December 30th. HC Wainwright reissued a “neutral” rating on shares of Galectin Therapeutics in a report on Friday, December 27th.

Galectin Therapeutics 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.