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

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

Galectin Therapeutics Stock Performance

GALT traded down $0.16 during midday trading on Monday, reaching $1.36. 68,732 shares of the company were exchanged, compared to its average volume of 324,391. The company has a market cap of $85.23 million, a price-to-earnings ratio of -1.84 and a beta of 0.69. Galectin Therapeutics has a one year low of $0.73 and a one year high of $4.27. The company’s fifty day moving average price is $1.45 and its 200 day moving average price is $1.98.

Analyst Ratings Changes

Several brokerages have issued reports on GALT. StockNews.com lowered Galectin Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, December 30th. HC Wainwright reissued a “neutral” rating on shares of Galectin Therapeutics in a research report on Friday, December 27th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Galectin Therapeutics stock. Bank of America Corp DE increased its stake in Galectin Therapeutics Inc. (NASDAQ:GALT) by 101.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 38,358 shares of the company’s stock after buying an additional 19,316 shares during the quarter. Bank of America Corp DE owned 0.06% of Galectin Therapeutics worth $49,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 11.68% of the company’s stock.

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.