Galectin Therapeutics (NASDAQ:GALT) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Galectin Therapeutics Inc. (NASDAQ:GALT) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.15 and traded as high as $4.01. Galectin Therapeutics shares last traded at $3.91, with a volume of 243,553 shares traded.

Wall Street Analyst Weigh In

GALT has been the subject of a number of analyst reports. Wall Street Zen raised shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Zacks Research raised shares of Galectin Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a research note on Tuesday, June 23rd. Finally, Weiss Ratings raised Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.00.

Galectin Therapeutics Trading Up 0.3%

The company has a 50 day simple moving average of $3.85 and a two-hundred day simple moving average of $3.15. The firm has a market capitalization of $257.51 million, a P/E ratio of -9.09 and a beta of 0.38.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). On average, sell-side analysts expect that Galectin Therapeutics Inc. will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Galectin Therapeutics news, Director Harold H. Shlevin sold 22,268 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $5.04, for a total transaction of $112,230.72. Following the completion of the transaction, the director owned 6,500 shares of the company’s stock, valued at $32,760. This represents a 77.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Khurram Jamil sold 47,467 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $5.04, for a total value of $239,233.68. Following the transaction, the insider owned 2,037 shares of the company’s stock, valued at approximately $10,266.48. The trade was a 95.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 89,594 shares of company stock worth $436,703. 52.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Galectin Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GALT. Royal Bank of Canada grew its holdings in Galectin Therapeutics by 1,197.3% during 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 in the last quarter. Invesco Ltd. purchased a new stake in shares of Galectin Therapeutics during the 4th quarter worth approximately $43,000. Bank of America Corp DE raised its holdings in shares of Galectin Therapeutics by 101.4% during the 4th quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock worth $49,000 after acquiring an additional 19,316 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Galectin Therapeutics during the 4th quarter valued at approximately $59,000. Finally, Argyle Capital Partners LLC bought a new position in shares of Galectin Therapeutics during the 2nd quarter valued at approximately $62,000. 11.68% of the stock is owned by institutional investors.

About Galectin Therapeutics

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.