Galectin Therapeutics Inc. (GALT) Downgraded by Zacks Investment Research to “Hold”
Galectin Therapeutics Inc. (NASDAQ:GALT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Galectin Therapeutics Inc. is a drug development company engaged in the development new therapies for fibrotic disease and cancer. The Company uses its carbohydrate technology that targets galectin proteins, the key mediators of biologic and pathologic function. Galectin Therapeutics uses naturally occurring carbohydrate polymers with galactose residues to create complex carbohydrates with specific molecular weights. Galectin Therapeutics, formerly known as Pro-Pharmaceuticals, Inc. is headquartered in Newton, Massachusetts. “
Several other research analysts have also recently issued reports on the company. Roth Capital reissued a “sell” rating and issued a $0.75 price target (down previously from $3.00) on shares of Galectin Therapeutics in a research note on Wednesday, September 28th. FBR & Co reaffirmed a “buy” rating on shares of Galectin Therapeutics in a research note on Friday, August 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of Galectin Therapeutics in a research note on Thursday, August 4th.
Galectin Therapeutics (NASDAQ:GALT) traded down 4.1740% during mid-day trading on Tuesday, reaching $0.9252. The company’s stock had a trading volume of 68,667 shares. The firm has a 50-day moving average of $0.85 and a 200 day moving average of $1.45. Galectin Therapeutics has a 1-year low of $0.49 and a 1-year high of $3.05. The firm’s market capitalization is $27.09 million.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. purchased a new position in shares of Galectin Therapeutics during the second quarter valued at $584,000. Courage Capital Management LLC bought a new stake in shares of Galectin Therapeutics during the third quarter valued at approximately $147,000. KCG Holdings Inc. bought a new stake in shares of Galectin Therapeutics during the third quarter valued at approximately $114,000. Benchmark Capital Advisors increased its stake in shares of Galectin Therapeutics by 98.3% in the third quarter. Benchmark Capital Advisors now owns 118,200 shares of the company’s stock valued at $134,000 after buying an additional 58,600 shares in the last quarter. Finally, D.A. Davidson & CO. increased its stake in shares of Galectin Therapeutics by 5.9% in the third quarter. D.A. Davidson & CO. now owns 602,731 shares of the company’s stock valued at $681,000 after buying an additional 33,382 shares in the last quarter. 11.87% of the stock is owned by institutional investors and hedge funds.
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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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