Galectin Therapeutics (NASDAQ:GALT) Announces Earnings Results, Misses Estimates By $0.05 EPS

Galectin Therapeutics (NASDAQ:GALT) posted its quarterly earnings data on Friday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05), FiscalAI reports.

Galectin Therapeutics Stock Performance

Shares of NASDAQ GALT traded down $0.09 during trading on Friday, hitting $3.44. 388,201 shares of the company were exchanged, compared to its average volume of 470,796. The company has a fifty day moving average price of $3.58 and a 200-day moving average price of $2.99. The firm has a market capitalization of $226.56 million, a PE ratio of -8.39 and a beta of 0.41. Galectin Therapeutics has a 12-month low of $2.03 and a 12-month high of $7.13.

Insider Transactions at Galectin Therapeutics

In other Galectin Therapeutics news, Director Harold H. Shlevin sold 22,268 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $5.04, for a total value of $112,230.72. Following the transaction, the director directly owned 6,500 shares in the company, valued at $32,760. The trade was a 77.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Khurram Jamil sold 47,467 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $5.04, for a total transaction of $239,233.68. Following the completion of the transaction, the insider owned 2,037 shares in the company, valued at $10,266.48. The trade was a 95.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 90,162 shares of company stock valued at $438,464 in the last three months. 52.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Galectin Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new stake in shares of Galectin Therapeutics in the 2nd quarter valued at approximately $1,580,000. Goldman Sachs Group Inc. lifted its holdings in shares of Galectin Therapeutics by 1,295.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 307,229 shares of the company’s stock worth $1,278,000 after acquiring an additional 285,215 shares during the last quarter. 683 Capital Management LLC purchased a new position in shares of Galectin Therapeutics during the 4th quarter worth approximately $676,000. Wellington Management Group LLP purchased a new position in shares of Galectin Therapeutics during the 4th quarter worth approximately $592,000. Finally, Millennium Management LLC boosted its position in shares of Galectin Therapeutics by 113.3% during the 4th quarter. Millennium Management LLC now owns 235,508 shares of the company’s stock worth $980,000 after purchasing an additional 125,086 shares during the period. Institutional investors and hedge funds own 11.68% of the company’s stock.

Analysts Set New Price Targets

GALT has been the topic of a number of research analyst reports. Wall Street Zen raised Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings raised shares of Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. Zacks Research upgraded shares of Galectin Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.00.

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.