Galectin Therapeutics (NASDAQ:GALT) Announces Earnings Results

Galectin Therapeutics (NASDAQ:GALT) announced its quarterly earnings results on Friday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02), FiscalAI reports.

Galectin Therapeutics Stock Down 7.7%

NASDAQ:GALT traded down $0.18 during mid-day trading on Friday, hitting $2.17. 366,269 shares of the stock traded hands, compared to its average volume of 342,632. The stock has a market capitalization of $142.85 million, a price-to-earnings ratio of -4.52 and a beta of 0.45. Galectin Therapeutics has a 52 week low of $1.21 and a 52 week high of $7.13. The firm’s 50 day moving average is $2.59 and its two-hundred day moving average is $3.70.

Institutional Investors Weigh In On Galectin Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in Galectin Therapeutics by 1,197.3% in the 4th quarter. Royal Bank of Canada now owns 6,175 shares of the company’s stock valued at $25,000 after buying an additional 5,699 shares during the period. Invesco Ltd. bought a new position in shares of Galectin Therapeutics during the 4th quarter worth approximately $43,000. Cetera Investment Advisers bought a new position in shares of Galectin Therapeutics during the 4th quarter worth approximately $59,000. JPMorgan Chase & Co. raised its stake in shares of Galectin Therapeutics by 25.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,470 shares of the company’s stock worth $66,000 after acquiring an additional 3,133 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Galectin Therapeutics during the 4th quarter worth approximately $68,000. 11.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Galectin Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Galectin Therapeutics presently has an average rating of “Hold” and an average price target of $11.00.

Galectin Therapeutics Company Profile

Galectin Therapeutics, Inc is a clinical-stage biotechnology company focused on the development of novel therapies that target galectin proteins, which are implicated in fibrotic, inflammatory and malignant diseases. The company’s lead product candidate, belapectin (formerly GR-MD-02), is a galectin-3 inhibitor being evaluated in Phase 2 clinical trials for nonalcoholic steatohepatitis (NASH) with cirrhosis. In addition to its core pipeline in fibrotic liver disease, Galectin Therapeutics continues to explore the potential of its galectin inhibitors in oncology and other indications driven by abnormal tissue remodeling.

Founded in 2000, the company is headquartered in Norcross, Georgia, where it oversees discovery research, preclinical studies and clinical trial coordination.