Galectin Therapeutics (GALT) Cut to Buy at ValuEngine
ValuEngine lowered shares of Galectin Therapeutics (NASDAQ:GALT) from a strong-buy rating to a buy rating in a research report released on Monday.
Other analysts have also recently issued research reports about the stock. BidaskClub raised shares of Galectin Therapeutics from a hold rating to a buy rating in a research note on Wednesday, September 5th. HC Wainwright reissued a buy rating and issued a $12.00 price objective on shares of Galectin Therapeutics in a research note on Thursday, August 16th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $7.58.
Shares of Galectin Therapeutics stock opened at $4.74 on Monday. Galectin Therapeutics has a twelve month low of $1.28 and a twelve month high of $9.49. The firm has a market capitalization of $198.43 million, a P/E ratio of -9.67 and a beta of 2.76.
In related news, Director Marc Rubin sold 11,900 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $6.58, for a total value of $78,302.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gilbert S. Omenn sold 11,000 shares of the business’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $6.03, for a total transaction of $66,330.00. Following the completion of the transaction, the director now owns 56,561 shares in the company, valued at approximately $341,062.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,370 shares of company stock worth $614,487. 45.20% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Galectin Therapeutics by 2.3% in the third quarter. BlackRock Inc. now owns 601,657 shares of the company’s stock valued at $3,616,000 after buying an additional 13,349 shares during the period. Virtu Financial LLC acquired a new position in Galectin Therapeutics in the third quarter valued at $107,000. Wells Fargo & Company MN lifted its holdings in Galectin Therapeutics by 45.7% in the third quarter. Wells Fargo & Company MN now owns 58,471 shares of the company’s stock valued at $352,000 after buying an additional 18,336 shares during the period. Argent Trust Co acquired a new position in Galectin Therapeutics in the second quarter valued at $133,000. Finally, LPL Financial LLC acquired a new position in Galectin Therapeutics in the first quarter valued at $112,000. Institutional investors and hedge funds own 13.73% of the company’s stock.
About Galectin Therapeutics
Galectin Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic disease, skin disease, and cancer. The company's lead product candidate includes galectin-3 inhibitor (GR-MD-02), a galactoarabino-rhamnogalacturonan polysaccharide polymer for the treatment of liver fibrosis and liver cirrhosis in non-alcoholic steatohepatitis patients, as well as for the treatment of cancer.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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