Zacks Investment Research cut shares of Galectin Therapeutics (NASDAQ:GALT) from a buy rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

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. “

GALT traded up $0.01 during mid-day trading on Monday, reaching $3.10. 274,707 shares of the company traded hands, compared to its average volume of 333,447. The stock has a market capitalization of $183.74 million, a P/E ratio of -8.16 and a beta of 3.01. The company’s fifty day moving average price is $3.86 and its 200-day moving average price is $3.84. Galectin Therapeutics has a 52-week low of $2.94 and a 52-week high of $6.06.

Galectin Therapeutics (NASDAQ:GALT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. On average, research analysts forecast that Galectin Therapeutics will post -0.29 earnings per share for the current year.

In other news, major shareholder Fund L.P. 10X sold 17,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3.73, for a total value of $63,410.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 40.70% of the company’s stock.

Large investors have recently bought and sold shares of the company. Vivaldi Capital Management LLC purchased a new stake in shares of Galectin Therapeutics in the 2nd quarter worth $44,000. Commonwealth Equity Services LLC increased its stake in shares of Galectin Therapeutics by 25.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 15,247 shares of the company’s stock worth $63,000 after purchasing an additional 3,059 shares in the last quarter. Centaurus Financial Inc. increased its stake in shares of Galectin Therapeutics by 20,098.8% in the 2nd quarter. Centaurus Financial Inc. now owns 16,563 shares of the company’s stock worth $69,000 after purchasing an additional 16,481 shares in the last quarter. Amussen Hunsaker Associates LLC purchased a new stake in shares of Galectin Therapeutics in the 2nd quarter worth $71,000. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Galectin Therapeutics by 19.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 19,498 shares of the company’s stock worth $81,000 after purchasing an additional 3,148 shares in the last quarter. Hedge funds and other institutional investors own 15.75% of the company’s stock.

Galectin Therapeutics Company Profile

Galectin Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, skin, and cancer diseases. The company's lead product candidate includes GR-MD-02 galectin-3 inhibitor, a galactoarabino-rhamnogalacturonan polysaccharide polymer that is in Phase III clinical trial for the treatment of liver fibrosis associated with fatty liver disease and non-alcoholic steatohepatitis cirrhosis, as well as for the treatment of cancer.

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