Galectin Therapeutics Inc. (NASDAQ:GALT) Short Interest Update

Galectin Therapeutics Inc. (NASDAQ:GALT) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 4,570,000 shares, a growth of 14.0% from the June 30th total of 4,010,000 shares. Based on an average daily volume of 190,800 shares, the days-to-cover ratio is presently 24.0 days. Currently, 10.7% of the company’s stock are sold short.

Wall Street Analyst Weigh In

GALT has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a report on Tuesday, April 9th. StockNews.com downgraded shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th.

Institutional Investors Weigh In On Galectin Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of GALT. Retirement Guys Formula LLC grew its position in shares of Galectin Therapeutics by 87.0% during the 4th quarter. Retirement Guys Formula LLC now owns 21,500 shares of the company’s stock valued at $36,000 after buying an additional 10,000 shares during the last quarter. Solutions 4 Wealth Ltd bought a new position in shares of Galectin Therapeutics during the fourth quarter valued at approximately $60,000. Traynor Capital Management Inc. raised its position in shares of Galectin Therapeutics by 23.5% during the 2nd quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock worth $97,000 after purchasing an additional 8,164 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Galectin Therapeutics in the 2nd quarter worth approximately $146,000. Finally, Wealthspire Advisors LLC boosted its position in Galectin Therapeutics by 116.7% during the 1st quarter. Wealthspire Advisors LLC now owns 398,374 shares of the company’s stock valued at $952,000 after purchasing an additional 214,512 shares during the period. Institutional investors own 11.68% of the company’s stock.

Galectin Therapeutics Price Performance

GALT traded up $0.01 on Monday, reaching $2.57. The company’s stock had a trading volume of 97,963 shares, compared to its average volume of 154,261. Galectin Therapeutics has a 1 year low of $1.35 and a 1 year high of $4.27. The business’s 50 day moving average is $2.54 and its 200 day moving average is $2.49. The stock has a market cap of $159.73 million, a price-to-earnings ratio of -3.50 and a beta of 0.63.

Galectin Therapeutics (NASDAQ:GALT) last released its earnings results on Wednesday, May 15th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.03). As a group, research analysts forecast that Galectin Therapeutics will post -0.66 earnings per share for the current fiscal year.

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.