Galectin Therapeutics (NASDAQ:GALT) Issues 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 (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.03), Zacks reports.

Galectin Therapeutics Stock Performance

NASDAQ GALT opened at $1.26 on Wednesday. Galectin Therapeutics has a one year low of $0.73 and a one year high of $4.27. The firm has a market cap of $79.08 million, a price-to-earnings ratio of -1.73 and a beta of 0.69. The firm has a 50 day simple moving average of $1.45 and a 200-day simple moving average of $1.95.

Institutional Inflows and Outflows

A hedge fund recently raised its stake 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 its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,358 shares of the company’s stock after purchasing an additional 19,316 shares during the period. Bank of America Corp DE owned about 0.06% of Galectin Therapeutics worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 11.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on GALT shares. HC Wainwright reiterated a “neutral” rating on shares of Galectin Therapeutics in a research note on Wednesday. StockNews.com cut Galectin Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, December 30th.

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.