Short Interest in Galectin Therapeutics Inc. (NASDAQ:GALT) Rises By 18.0%
Galectin Therapeutics Inc. (NASDAQ:GALT) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 4,478,900 shares, an increase of 18.0% from the June 15th total of 3,796,800 shares. Currently, 13.0% of the shares of the company are sold short. Based on an average trading volume of 376,300 shares, the short-interest ratio is presently 11.9 days.
Several brokerages have commented on GALT. ValuEngine lowered Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Zacks Investment Research raised Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Galectin Therapeutics has a consensus rating of “Buy” and an average price target of $9.17.
In related news, Director Richard E. Uihlein bought 4,680,606 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average cost of $4.28 per share, with a total value of $20,032,993.68. Following the completion of the acquisition, the director now directly owns 3,128,489 shares in the company, valued at $13,389,932.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 45.20% of the stock is owned by company insiders.
GALT traded up $0.09 during trading on Friday, hitting $3.80. The company’s stock had a trading volume of 226,892 shares, compared to its average volume of 410,351. Galectin Therapeutics has a twelve month low of $3.17 and a twelve month high of $6.98. The business’s fifty day moving average price is $3.92. The company has a market cap of $173.24 million, a price-to-earnings ratio of -10.00 and a beta of 3.16.
Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings results on Friday, May 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.06. As a group, analysts anticipate that Galectin Therapeutics will post -0.45 earnings per share for the current year.
About Galectin Therapeutics
Galectin Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, skin, and cancer diseases. The company's lead product candidate includes 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.
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