PNC Financial Services Group Inc. Takes $26,000 Position in Galectin Therapeutics Inc. (NASDAQ:GALT)

PNC Financial Services Group Inc. bought a new position in shares of Galectin Therapeutics Inc. (NASDAQ:GALT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 20,000 shares of the company’s stock, valued at approximately $26,000.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Galectin Therapeutics by 19.0% in the 4th quarter. Bank of New York Mellon Corp now owns 50,826 shares of the company’s stock valued at $66,000 after purchasing an additional 8,105 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of Galectin Therapeutics by 27.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 51,550 shares of the company’s stock worth $66,000 after buying an additional 11,100 shares in the last quarter. Traynor Capital Management Inc. boosted its position in shares of Galectin Therapeutics by 29.9% in the fourth quarter. Traynor Capital Management Inc. now owns 55,670 shares of the company’s stock valued at $72,000 after acquiring an additional 12,799 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Galectin Therapeutics by 46.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 51,369 shares of the company’s stock valued at $66,000 after acquiring an additional 16,271 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Galectin Therapeutics by 161.3% during the third quarter. JPMorgan Chase & Co. now owns 30,628 shares of the company’s stock worth $84,000 after acquiring an additional 18,907 shares during the period. 11.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. StockNews.com lowered Galectin Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, December 30th. HC Wainwright restated a “neutral” rating on shares of Galectin Therapeutics in a research report on Friday, December 27th.

Galectin Therapeutics Trading Up 2.4 %

NASDAQ GALT opened at $1.68 on Friday. The firm has a market capitalization of $105.44 million, a PE ratio of -2.30 and a beta of 0.69. The business’s 50-day moving average price is $1.45 and its two-hundred day moving average price is $1.99. Galectin Therapeutics Inc. has a 12 month low of $0.73 and a 12 month high of $4.27.

Galectin Therapeutics 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.