Galectin Therapeutics Inc. (NASDAQ:GALT) Short Interest Update

Galectin Therapeutics Inc. (NASDAQ:GALT) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 4,902,530 shares, a drop of 17.6% from the December 15th total of 5,950,487 shares. Currently, 16.0% of the shares of the company are sold short. Based on an average trading volume of 890,925 shares, the short-interest ratio is currently 5.5 days. Based on an average trading volume of 890,925 shares, the short-interest ratio is currently 5.5 days. Currently, 16.0% of the shares of the company are sold short.

Galectin Therapeutics Trading Down 2.6%

GALT traded down $0.08 on Tuesday, reaching $2.96. The stock had a trading volume of 268,512 shares, compared to its average volume of 495,190. The business’s 50-day moving average price is $4.89 and its two-hundred day moving average price is $4.45. The company has a market cap of $190.83 million, a P/E ratio of -5.02 and a beta of 1.03. Galectin Therapeutics has a 12-month low of $1.11 and a 12-month high of $7.13.

Galectin Therapeutics (NASDAQ:GALT) last posted its earnings results on Friday, November 14th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). As a group, analysts predict that Galectin Therapeutics will post -0.73 earnings per share for the current year.

Analyst Ratings Changes

GALT has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Galectin Therapeutics in a research report on Wednesday, October 8th. HC Wainwright boosted their price objective on Galectin Therapeutics from $6.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.00.

Insider Transactions at Galectin Therapeutics

In other Galectin Therapeutics news, CFO Jack W. Callicutt sold 28,629 shares of the firm’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 completion of the transaction, the chief financial officer directly owned 7,614 shares of the company’s stock, valued at approximately $46,216.98. This trade represents a 78.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Harold H. Shlevin sold 159,000 shares of Galectin Therapeutics stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $5.98, for a total transaction of $950,820.00. Following the sale, the director owned 11,206 shares of the company’s stock, valued at approximately $67,011.88. The trade was a 93.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 831,717 shares of company stock valued at $4,466,908. 52.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Galectin Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Galectin Therapeutics by 2.9% during the third quarter. Vanguard Group Inc. now owns 2,247,967 shares of the company’s stock worth $9,520,000 after acquiring an additional 63,419 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Galectin Therapeutics by 3.4% during the second quarter. Osaic Holdings Inc. now owns 1,265,384 shares of the company’s stock valued at $2,670,000 after acquiring an additional 41,968 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Galectin Therapeutics in the second quarter valued at approximately $1,580,000. Wealthspire Advisors LLC boosted its stake in shares of Galectin Therapeutics by 20.4% in the second quarter. Wealthspire Advisors LLC now owns 479,518 shares of the company’s stock worth $1,012,000 after acquiring an additional 81,144 shares during the last quarter. Finally, Vivaldi Capital Management LP boosted its stake in shares of Galectin Therapeutics by 48.3% in the third quarter. Vivaldi Capital Management LP now owns 255,752 shares of the company’s stock worth $1,083,000 after acquiring an additional 83,309 shares during the last quarter. Institutional investors and hedge funds own 11.68% of the company’s stock.

Galectin Therapeutics Company Profile

Galectin Therapeutics, Inc is a clinical-stage biotechnology company focused on the development of novel therapies that target galectin proteins, which are implicated in fibrotic, inflammatory and malignant diseases. The company’s lead product candidate, belapectin (formerly GR-MD-02), is a galectin-3 inhibitor being evaluated in Phase 2 clinical trials for nonalcoholic steatohepatitis (NASH) with cirrhosis. In addition to its core pipeline in fibrotic liver disease, Galectin Therapeutics continues to explore the potential of its galectin inhibitors in oncology and other indications driven by abnormal tissue remodeling.

Founded in 2000, the company is headquartered in Norcross, Georgia, where it oversees discovery research, preclinical studies and clinical trial coordination.