Galectin Therapeutics (NASDAQ:GALT) Releases Earnings Results, Misses Estimates By $0.02 EPS

Galectin Therapeutics (NASDAQ:GALT) posted its quarterly earnings results on Friday. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02), Zacks reports.

Galectin Therapeutics Price Performance

Shares of NASDAQ GALT traded down $0.02 during trading on Friday, hitting $5.51. The stock had a trading volume of 238,869 shares, compared to its average volume of 390,645. The firm has a fifty day moving average of $5.00 and a two-hundred day moving average of $3.39. The company has a market capitalization of $355.28 million, a PE ratio of -8.61 and a beta of 0.86. Galectin Therapeutics has a 12 month low of $0.73 and a 12 month high of $6.55.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GALT shares. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Galectin Therapeutics in a research report on Thursday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Galectin Therapeutics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.00.

Insiders Place Their Bets

In related news, CFO Jack W. Callicutt sold 28,629 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $6.07, for a total transaction of $173,778.03. Following the sale, the chief financial officer directly owned 7,614 shares in the company, valued at approximately $46,216.98. This represents a 78.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Khurram Jamil sold 121,117 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $5.47, for a total transaction of $662,509.99. Following the transaction, the insider directly owned 4,479 shares of the company’s stock, valued at approximately $24,500.13. This represents a 96.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 242,182 shares of company stock valued at $1,347,835. 52.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Galectin Therapeutics

A number of institutional investors have recently added to or reduced their stakes in GALT. Ancora Advisors LLC raised its stake in Galectin Therapeutics by 302.9% during the third quarter. Ancora Advisors LLC now owns 52,380 shares of the company’s stock valued at $222,000 after buying an additional 39,380 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Galectin Therapeutics during the third quarter valued at $165,000. Vanguard Group Inc. raised its position in shares of Galectin Therapeutics by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,247,967 shares of the company’s stock worth $9,520,000 after purchasing an additional 63,419 shares during the last quarter. Jane Street Group LLC purchased a new stake in Galectin Therapeutics during the 2nd quarter valued at about $1,580,000. Finally, Vivaldi Capital Management LP lifted its holdings in shares of Galectin Therapeutics by 210.0% during the second quarter. Vivaldi Capital Management LP now owns 172,443 shares of the company’s stock valued at $364,000 after purchasing an additional 116,815 shares in the last quarter. Institutional investors own 11.68% 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, cancer, and other diseases. Its lead product candidate is belapectin (GR-MD-02) galectin-3 inhibitor, that is in Phase 2b/3 clinical trial, to prevent esophageal varices in patient with non-alcoholic steatohepatitis (NASH) cirrhosis; and Phase 2 clinical trial for the treatment of liver fibrosis, as well as severe skin disease, and melanoma and head and neck squamous cell carcinoma.