Sanctuary Advisors LLC Buys New Shares in Galectin Therapeutics Inc. (NASDAQ:GALT)

Sanctuary Advisors LLC bought a new position in Galectin Therapeutics Inc. (NASDAQ:GALT) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 100,658 shares of the company’s stock, valued at approximately $227,000. Sanctuary Advisors LLC owned about 0.16% of Galectin Therapeutics as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Marshall Wace LLP bought a new position in Galectin Therapeutics during the 2nd quarter valued at about $43,000. Rhumbline Advisers bought a new position in Galectin Therapeutics during the 2nd quarter valued at about $44,000. Retirement Guys Formula LLC grew its holdings in Galectin Therapeutics by 56.9% during the 1st quarter. Retirement Guys Formula LLC now owns 33,732 shares of the company’s stock valued at $81,000 after purchasing an additional 12,232 shares during the last quarter. Traynor Capital Management Inc. grew its holdings in Galectin Therapeutics by 23.5% during the 2nd quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock valued at $97,000 after purchasing an additional 8,164 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Galectin Therapeutics in the 2nd quarter worth about $146,000. 11.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on GALT. StockNews.com upgraded shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Galectin Therapeutics in a research note on Friday, August 16th.

Galectin Therapeutics Price Performance

Shares of GALT stock opened at $2.67 on Friday. The company has a market capitalization of $165.94 million, a P/E ratio of -3.61 and a beta of 0.61. The company’s 50-day simple moving average is $2.59 and its two-hundred day simple moving average is $2.74. Galectin Therapeutics Inc. has a one year low of $1.55 and a one year high of $4.27.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). On average, research analysts expect that Galectin Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

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.