Galectin Therapeutics (NASDAQ:GALT) Announces Quarterly Earnings Results

Galectin Therapeutics (NASDAQ:GALT) announced its quarterly earnings results on Monday. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.03), Zacks reports.

Galectin Therapeutics Stock Performance

NASDAQ:GALT traded down $0.16 during trading hours on Monday, reaching $1.36. The company’s stock had a trading volume of 68,732 shares, compared to its average volume of 324,391. The firm has a 50-day simple moving average of $1.45 and a 200-day simple moving average of $1.98. Galectin Therapeutics has a 1 year low of $0.73 and a 1 year high of $4.27. The firm has a market capitalization of $85.23 million, a price-to-earnings ratio of -1.84 and a beta of 0.69.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Galectin Therapeutics stock. Bank of America Corp DE boosted its stake in Galectin Therapeutics Inc. (NASDAQ:GALT) by 101.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,358 shares of the company’s stock after purchasing an additional 19,316 shares during the period. Bank of America Corp DE owned about 0.06% of Galectin Therapeutics worth $49,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 11.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GALT shares. StockNews.com downgraded Galectin Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, December 30th. HC Wainwright restated a “neutral” rating on shares of Galectin Therapeutics in a research report on Friday, December 27th.

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.