Galectin Therapeutics (NASDAQ:GALT) Releases Earnings Results, Misses Expectations By $0.03 EPS

Galectin Therapeutics (NASDAQ:GALT) issued its quarterly earnings data on Monday. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.03), Zacks reports.

Galectin Therapeutics Stock Performance

GALT stock opened at $1.25 on Monday. The firm has a 50 day moving average price of $1.45 and a 200-day moving average price of $1.98. Galectin Therapeutics has a 52-week low of $0.73 and a 52-week high of $4.27. The firm has a market capitalization of $78.14 million, a price-to-earnings ratio of -1.71 and a beta of 0.69.

Wall Street Analysts Forecast Growth

GALT has been the subject of several research reports. HC Wainwright reissued a “neutral” rating on shares of Galectin Therapeutics in a research report on Friday, December 27th. StockNews.com lowered Galectin Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, December 30th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Galectin Therapeutics stock. Bank of America Corp DE raised its stake in Galectin Therapeutics Inc. (NASDAQ:GALT) by 101.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,358 shares of the company’s stock after acquiring an additional 19,316 shares during the period. Bank of America Corp DE owned approximately 0.06% of Galectin Therapeutics worth $49,000 as of its most recent SEC filing. 11.68% of the stock is owned by hedge funds and other institutional investors.

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.