Galectin Therapeutics Inc. (NASDAQ:GALT) Sees Significant Increase in Short Interest

Galectin Therapeutics Inc. (NASDAQ:GALT) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 4,570,000 shares, a growth of 14.0% from the June 30th total of 4,010,000 shares. Currently, 10.7% of the company’s shares are short sold. Based on an average trading volume of 190,800 shares, the short-interest ratio is presently 24.0 days.

Institutional Investors Weigh In On Galectin Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Retirement Guys Formula LLC lifted its position in Galectin Therapeutics by 87.0% during the fourth quarter. Retirement Guys Formula LLC now owns 21,500 shares of the company’s stock valued at $36,000 after purchasing an additional 10,000 shares during the period. Solutions 4 Wealth Ltd purchased a new position in shares of Galectin Therapeutics during the 4th quarter valued at about $60,000. Traynor Capital Management Inc. lifted its holdings in shares of Galectin Therapeutics by 23.5% in the 2nd quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock valued at $97,000 after buying an additional 8,164 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Galectin Therapeutics in the second quarter worth about $146,000. Finally, Wealthspire Advisors LLC grew its holdings in Galectin Therapeutics by 116.7% during the first quarter. Wealthspire Advisors LLC now owns 398,374 shares of the company’s stock worth $952,000 after acquiring an additional 214,512 shares during the period. Institutional investors and hedge funds own 11.68% of the company’s stock.

Wall Street Analyst Weigh In

GALT has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of Galectin Therapeutics in a report on Tuesday, April 9th. StockNews.com downgraded shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th.

Galectin Therapeutics Stock Up 0.4 %

Shares of Galectin Therapeutics stock traded up $0.01 during trading on Monday, reaching $2.57. The company’s stock had a trading volume of 97,963 shares, compared to its average volume of 154,261. The company has a 50-day simple moving average of $2.54 and a two-hundred day simple moving average of $2.49. Galectin Therapeutics has a 1-year low of $1.35 and a 1-year high of $4.27. The company has a market cap of $159.73 million, a price-to-earnings ratio of -3.50 and a beta of 0.63.

Galectin Therapeutics (NASDAQ:GALT) last released its earnings results on Wednesday, May 15th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). As a group, analysts anticipate that Galectin Therapeutics will post -0.66 earnings per share for the current year.

About Galectin Therapeutics

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.