Galectin Therapeutics Inc. (GALT) Short Interest Update
Galectin Therapeutics Inc. (NASDAQ:GALT) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 2,391,838 shares, an increase of 138.9% from the September 15th total of 1,001,282 shares. Currently, 9.1% of the company’s shares are sold short. Based on an average daily volume of 2,696,358 shares, the short-interest ratio is presently 0.9 days.
GALT has been the topic of a number of research reports. HC Wainwright downgraded shares of Galectin Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the company from $8.00 to $1.50 in a research report on Thursday, September 29th. FBR & Co downgraded shares of Galectin Therapeutics from an “outperform” rating to a “market perform” rating and cut their target price for the company from $12.00 to $2.00 in a research report on Monday, October 3rd. Roth Capital initiated coverage on shares of Galectin Therapeutics in a research report on Friday, July 1st. They set a “buy” rating on the stock. Finally, Zacks Investment Research downgraded shares of Galectin Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd.
A number of large investors have recently made changes to their positions in GALT. BlackRock Fund Advisors increased its stake in shares of Galectin Therapeutics by 33.8% in the second quarter. BlackRock Fund Advisors now owns 78,955 shares of the company’s stock valued at $116,000 after buying an additional 19,967 shares during the period. Advisor Group Inc. bought a new stake in shares of Galectin Therapeutics during the second quarter valued at about $584,000. Finally, Vanguard Group Inc. increased its stake in shares of Galectin Therapeutics by 0.4% in the second quarter. Vanguard Group Inc. now owns 606,537 shares of the company’s stock valued at $892,000 after buying an additional 2,490 shares during the period. Institutional investors and hedge funds own 11.69% of the company’s stock.
Shares of Galectin Therapeutics (NASDAQ:GALT) opened at 0.87 on Friday. Galectin Therapeutics has a 52 week low of $0.83 and a 52 week high of $3.25. The company’s market capitalization is $25.47 million. The stock has a 50 day moving average price of $1.59 and a 200-day moving average price of $1.57.
Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.04. Equities research analysts expect that Galectin Therapeutics will post ($0.91) EPS for the current year.
Galectin Therapeutics Company Profile
Galectin Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in drug research and development to create therapies for fibrotic disease and cancer. The Company’s drug candidates are based on its method of targeting galectin proteins, which are mediators of biologic and pathologic functions.
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