Bank of New York Mellon Corp Grows Holdings in Galectin Therapeutics Inc. (NASDAQ:GALT)

Bank of New York Mellon Corp lifted its position in shares of Galectin Therapeutics Inc. (NASDAQ:GALT) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,826 shares of the company’s stock after acquiring an additional 8,105 shares during the quarter. Bank of New York Mellon Corp’s holdings in Galectin Therapeutics were worth $66,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GALT. Retirement Guys Formula LLC lifted its position in shares of Galectin Therapeutics by 143.4% during the 4th quarter. Retirement Guys Formula LLC now owns 155,343 shares of the company’s stock valued at $200,000 after buying an additional 91,526 shares in the last quarter. Sovran Advisors LLC acquired a new position in Galectin Therapeutics during the fourth quarter worth $240,000. Stratos Wealth Partners LTD. lifted its holdings in Galectin Therapeutics by 27.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 51,550 shares of the company’s stock valued at $66,000 after purchasing an additional 11,100 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Galectin Therapeutics by 10.2% in the fourth quarter. Geneos Wealth Management Inc. now owns 388,935 shares of the company’s stock valued at $502,000 after purchasing an additional 36,000 shares during the period. Finally, Traynor Capital Management Inc. increased its stake in shares of Galectin Therapeutics by 29.9% during the fourth quarter. Traynor Capital Management Inc. now owns 55,670 shares of the company’s stock worth $72,000 after purchasing an additional 12,799 shares in the last quarter. 11.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Galectin Therapeutics Stock Down 9.5 %

Shares of GALT opened at $1.52 on Monday. Galectin Therapeutics Inc. has a 52-week low of $0.73 and a 52-week high of $4.27. The stock has a market cap of $95.40 million, a PE ratio of -2.08 and a beta of 0.69. The firm’s fifty day moving average is $1.45 and its two-hundred day moving average is $1.98.

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.