Galectin Therapeutics (NASDAQ:GALT) Stock Rating Upgraded by StockNews.com

Galectin Therapeutics (NASDAQ:GALT) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of Galectin Therapeutics in a research report on Friday, November 15th.

Galectin Therapeutics Stock Up 2.4 %

Shares of Galectin Therapeutics stock opened at $2.76 on Wednesday. The stock’s fifty day moving average is $2.69 and its two-hundred day moving average is $2.60. The company has a market capitalization of $172.90 million, a PE ratio of -3.77 and a beta of 0.62. Galectin Therapeutics has a 52 week low of $1.55 and a 52 week high of $4.27.

Institutional Investors Weigh In On Galectin Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GALT. Traynor Capital Management Inc. raised its stake in shares of 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 purchasing an additional 8,164 shares during the last quarter. Marshall Wace LLP acquired a new stake in Galectin Therapeutics in the second quarter valued at approximately $43,000. Rhumbline Advisers acquired a new stake in Galectin Therapeutics in the second quarter valued at approximately $44,000. Geode Capital Management LLC grew its holdings in Galectin Therapeutics by 2.5% in the third quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock valued at $2,372,000 after purchasing an additional 20,817 shares during the period. Finally, State Street Corp boosted its stake in shares of Galectin Therapeutics by 9.3% in the third quarter. State Street Corp now owns 251,014 shares of the company’s stock worth $690,000 after acquiring an additional 21,399 shares during the last quarter. 11.68% of the stock is currently owned by hedge funds and other institutional investors.

Galectin Therapeutics Company Profile

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.