Rhumbline Advisers Purchases New Holdings in Galectin Therapeutics Inc. (NASDAQ:GALT)

Rhumbline Advisers acquired a new position in Galectin Therapeutics Inc. (NASDAQ:GALT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,275 shares of the company’s stock, valued at approximately $44,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Retirement Guys Formula LLC boosted its position in shares of Galectin Therapeutics by 56.9% in the 1st quarter. Retirement Guys Formula LLC now owns 33,732 shares of the company’s stock worth $81,000 after purchasing an additional 12,232 shares in the last quarter. Traynor Capital Management Inc. boosted its holdings in Galectin Therapeutics by 23.5% in the second quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock worth $97,000 after acquiring an additional 8,164 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Galectin Therapeutics in the second quarter worth $146,000. Wealthspire Advisors LLC increased its holdings in shares of Galectin Therapeutics by 116.7% during the first quarter. Wealthspire Advisors LLC now owns 398,374 shares of the company’s stock valued at $952,000 after acquiring an additional 214,512 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of Galectin Therapeutics by 317.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after purchasing an additional 367,610 shares during the last quarter. Institutional investors own 11.68% of the company’s stock.

Galectin Therapeutics Price Performance

GALT stock opened at $2.72 on Wednesday. Galectin Therapeutics Inc. has a 1-year low of $1.55 and a 1-year high of $4.27. The stock has a market capitalization of $169.04 million, a P/E ratio of -3.68 and a beta of 0.62. The business has a fifty day moving average price of $2.49 and a 200-day moving average price of $2.71.

Galectin Therapeutics (NASDAQ:GALT) last posted its earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.04). As a group, analysts anticipate that Galectin Therapeutics Inc. will post -0.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on GALT shares. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of Galectin Therapeutics in a research note on Friday, August 16th. StockNews.com downgraded shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday.

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.