Galectin Therapeutics Inc. (NASDAQ:GALT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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 firms also recently commented on GALT. FBR & Co reaffirmed a “buy” rating on shares of Galectin Therapeutics in a research note on Friday, August 26th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Galectin Therapeutics in a research note on Thursday, August 4th. Finally, Roth Capital reaffirmed a “sell” rating and issued a $0.75 price objective (down previously from $3.00) on shares of Galectin Therapeutics in a research note on Wednesday, September 28th.

Galectin Therapeutics (NASDAQ:GALT) traded down 8.89% during mid-day trading on Tuesday, reaching $0.82. The company had a trading volume of 177,738 shares. Galectin Therapeutics has a 1-year low of $0.49 and a 1-year high of $3.05. The company’s market capitalization is $24.10 million. The firm has a 50-day moving average of $0.83 and a 200 day moving average of $1.43.

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Several hedge funds have recently added to or reduced their stakes in GALT. Vanguard Group Inc. boosted its stake in 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 in the last quarter. Advisor Group Inc. boosted its stake in Galectin Therapeutics by 3.8% in the third quarter. Advisor Group Inc. now owns 413,125 shares of the company’s stock valued at $467,000 after buying an additional 15,200 shares in the last quarter. BlackRock Fund Advisors boosted its stake in 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 in the last quarter. D.A. Davidson & CO. boosted its stake in 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. Finally, Benchmark Capital Advisors boosted its stake in 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. Hedge funds and other institutional investors own 10.19% of the company’s stock.

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.

5 Day Chart for NASDAQ:GALT

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