Marshall Wace LLP Purchases New Position in Galectin Therapeutics Inc. (NASDAQ:GALT)

Marshall Wace LLP purchased a new stake in Galectin Therapeutics Inc. (NASDAQ:GALT) in the second quarter, HoldingsChannel reports. The fund purchased 18,825 shares of the company’s stock, valued at approximately $43,000.

A number of other institutional investors have also recently made changes to their positions in the business. Retirement Guys Formula LLC increased its position in shares of Galectin Therapeutics by 56.9% during the first quarter. Retirement Guys Formula LLC now owns 33,732 shares of the company’s stock worth $81,000 after acquiring an additional 12,232 shares during the period. Wealthspire Advisors LLC increased its holdings in Galectin Therapeutics by 116.7% during the first quarter. Wealthspire Advisors LLC now owns 398,374 shares of the company’s stock valued at $952,000 after buying an additional 214,512 shares during the period. Vanguard Group Inc. increased its holdings in Galectin Therapeutics by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock valued at $4,732,000 after buying an additional 38,037 shares during the period. Traynor Capital Management Inc. increased its holdings in Galectin Therapeutics by 23.5% during the second quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock valued at $97,000 after buying an additional 8,164 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Galectin Therapeutics during the second quarter valued at approximately $146,000. Institutional investors own 11.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, October 6th. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of Galectin Therapeutics in a report on Friday, August 16th.

Galectin Therapeutics Price Performance

NASDAQ:GALT opened at $2.70 on Monday. The company’s 50-day moving average is $2.53 and its two-hundred day moving average is $2.73. Galectin Therapeutics Inc. has a 1-year low of $1.55 and a 1-year high of $4.27. The firm has a market capitalization of $167.80 million, a price-to-earnings ratio of -3.65 and a beta of 0.61.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.04). As a group, equities analysts anticipate that Galectin Therapeutics Inc. will post -0.79 earnings per share 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.