Short Interest in Galectin Therapeutics Inc. (NASDAQ:GALT) Rises By 5.1%

Galectin Therapeutics Inc. (NASDAQ:GALT) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 2,250,000 shares, an increase of 5.1% from the March 15th total of 2,140,000 shares. Currently, 5.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 105,800 shares, the short-interest ratio is currently 21.3 days.

Galectin Therapeutics Trading Down 13.0 %

GALT stock traded down $0.51 during trading on Tuesday, reaching $3.40. 350,339 shares of the stock were exchanged, compared to its average volume of 124,353. The business has a 50 day moving average price of $2.31 and a 200-day moving average price of $2.04. Galectin Therapeutics has a 1 year low of $1.28 and a 1 year high of $4.27. The firm has a market capitalization of $210.46 million, a price-to-earnings ratio of -4.59 and a beta of 0.84.

Hedge Funds Weigh In On Galectin Therapeutics

A number of institutional investors have recently bought and sold shares of GALT. D.A. Davidson & CO. increased its position in shares of Galectin Therapeutics by 15.2% during the third quarter. D.A. Davidson & CO. now owns 37,825 shares of the company’s stock valued at $73,000 after acquiring an additional 5,000 shares during the last quarter. Northern Trust Corp increased its position in shares of Galectin Therapeutics by 7.6% during the second quarter. Northern Trust Corp now owns 101,964 shares of the company’s stock valued at $147,000 after acquiring an additional 7,206 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Galectin Therapeutics by 1.5% during the first quarter. Geode Capital Management LLC now owns 521,678 shares of the company’s stock valued at $1,096,000 after acquiring an additional 7,863 shares during the last quarter. Retirement Guys Formula LLC grew its holdings in shares of Galectin Therapeutics by 87.0% in the fourth quarter. Retirement Guys Formula LLC now owns 21,500 shares of the company’s stock valued at $36,000 after purchasing an additional 10,000 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Galectin Therapeutics by 21.7% in the first quarter. PNC Financial Services Group Inc. now owns 56,184 shares of the company’s stock valued at $90,000 after purchasing an additional 10,000 shares in the last quarter. 11.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GALT has been the topic of several research reports. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a research note on Tuesday, April 9th. StockNews.com raised shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, April 1st.

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, a galactoarabino-rhamnogalacturonan polysaccharide polymer that is in Phase III clinical trial for the treatment of liver fibrosis associated with fatty liver disease and non-alcoholic steatohepatitis cirrhosis, as well as for the treatment of cancer.