Maxim Group reissued their hold rating on shares of Galena Biopharma, Inc. (NASDAQ:GALE) in a research report sent to investors on Wednesday.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered Galena Biopharma from a buy rating to a hold rating in a research note on Tuesday, May 16th. ValuEngine lowered Galena Biopharma from a sell rating to a strong sell rating in a research note on Friday, June 2nd.

Shares of Galena Biopharma (GALE) traded down 5.7119% during mid-day trading on Wednesday, hitting $0.3384. The stock had a trading volume of 792,563 shares. Galena Biopharma has a 1-year low of $0.26 and a 1-year high of $9.10. The company has a market capitalization of $13.07 million, a P/E ratio of 1.3015 and a beta of 1.77. The stock’s 50-day moving average price is $0.55 and its 200 day moving average price is $0.67.

Galena Biopharma (NASDAQ:GALE) last posted its quarterly earnings data on Wednesday, May 10th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.13. During the same period in the prior year, the business posted ($0.07) EPS. On average, analysts predict that Galena Biopharma will post ($0.56) EPS for the current fiscal year.

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Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Galena Biopharma by 1.0% in the second quarter. Vanguard Group Inc. now owns 1,332,434 shares of the biotechnology company’s stock valued at $774,000 after buying an additional 13,302 shares during the period. Virtu KCG Holdings LLC raised its stake in shares of Galena Biopharma by 677.4% in the second quarter. Virtu KCG Holdings LLC now owns 224,050 shares of the biotechnology company’s stock valued at $130,000 after buying an additional 195,230 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Galena Biopharma during the first quarter valued at about $976,000. 21.99% of the stock is owned by institutional investors.

Galena Biopharma Company Profile

Galena Biopharma, Inc is a biopharmaceutical company. The Company focuses on developing and commercializing targeted oncology therapeutics that address unmet medical needs. The Company’s development portfolio ranges from mid- to late-stage clinical assets, including cancer immunotherapy program led by NeuVax (nelipepimut-S), GALE-301 and GALE-302.

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