Commonwealth Equity Services LLC Buys 367,610 Shares of Galectin Therapeutics Inc. (NASDAQ:GALT)

Commonwealth Equity Services LLC increased its stake in Galectin Therapeutics Inc. (NASDAQ:GALT) by 317.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 483,351 shares of the company’s stock after buying an additional 367,610 shares during the period. Commonwealth Equity Services LLC owned 0.78% of Galectin Therapeutics worth $1,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Guys Formula LLC lifted its stake in shares of Galectin Therapeutics by 56.9% in the first quarter. Retirement Guys Formula LLC now owns 33,732 shares of the company’s stock worth $81,000 after buying an additional 12,232 shares in the last quarter. Traynor Capital Management Inc. lifted its position in Galectin Therapeutics by 23.5% in the 2nd quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock valued at $97,000 after acquiring an additional 8,164 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Galectin Therapeutics during the 2nd quarter valued at $146,000. Wealthspire Advisors LLC increased its holdings in shares of Galectin Therapeutics by 116.7% in the 1st quarter. Wealthspire Advisors LLC now owns 398,374 shares of the company’s stock worth $952,000 after purchasing an additional 214,512 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Galectin Therapeutics by 2.0% in the first quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock worth $4,732,000 after purchasing an additional 38,037 shares during the last quarter. Institutional investors own 11.68% of the company’s stock.

Galectin Therapeutics Trading Down 5.2 %

Shares of GALT opened at $2.72 on Tuesday. The firm has a fifty day simple moving average of $2.43 and a two-hundred day simple moving average of $2.65. The firm has a market cap of $169.40 million, a PE ratio of -3.68 and a beta of 0.62. Galectin Therapeutics Inc. has a 1-year low of $1.55 and a 1-year high of $4.27.

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

Wall Street Analyst Weigh In

Several research firms recently commented on GALT. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Galectin Therapeutics in a research report on Friday, August 16th. StockNews.com downgraded shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 18th.

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.