Galectin Therapeutics Inc (NASDAQ:GALT) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,421,733 shares, an increase of 87.7% from the November 30th total of 1,289,953 shares. Based on an average trading volume of 1,913,307 shares, the short-interest ratio is currently 1.3 days. Currently, 8.1% of the shares of the company are sold short.
Several equities analysts recently issued reports on the company. Roth Capital upped their target price on Galectin Therapeutics from $3.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday. ValuEngine downgraded Galectin Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Zacks Investment Research downgraded Galectin Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, December 8th. HC Wainwright reissued a “buy” rating and issued a $10.00 target price (up from $6.00) on shares of Galectin Therapeutics in a research report on Thursday, December 7th. Finally, Seaport Global Securities reissued a “buy” rating and issued a $5.00 target price on shares of Galectin Therapeutics in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $5.55.
Galectin Therapeutics (NASDAQ GALT) opened at $4.26 on Friday. Galectin Therapeutics has a 12-month low of $0.94 and a 12-month high of $4.80. The stock has a market capitalization of $151.82, a price-to-earnings ratio of -7.61 and a beta of 2.54.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Galectin Therapeutics by 18.2% in the second quarter. Vanguard Group Inc. now owns 871,510 shares of the company’s stock valued at $2,144,000 after purchasing an additional 134,165 shares during the last quarter. Advisor Group Inc. boosted its holdings in Galectin Therapeutics by 7.4% in the third quarter. Advisor Group Inc. now owns 519,850 shares of the company’s stock valued at $1,112,000 after purchasing an additional 35,850 shares during the last quarter. Virtu KCG Holdings LLC boosted its holdings in Galectin Therapeutics by 24.4% in the second quarter. Virtu KCG Holdings LLC now owns 107,203 shares of the company’s stock valued at $264,000 after purchasing an additional 21,008 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Galectin Therapeutics by 4.4% in the second quarter. Northern Trust Corp now owns 75,097 shares of the company’s stock valued at $185,000 after purchasing an additional 3,176 shares during the last quarter. 10.77% of the stock is currently owned by institutional investors.
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Galectin Therapeutics Company Profile
Galectin Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in drug research and development to create therapies for fibrotic disease and cancer. The Company’s drug candidates are based on its method of targeting galectin proteins, which are mediators of biologic and pathologic functions.
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