Galena Biopharma Inc (GALE) Announces Earnings Results
Galena Biopharma Inc (NASDAQ:GALE) posted its quarterly earnings results on Monday. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.01, Morningstar.com reports. During the same period in the prior year, the firm earned $0.05 EPS.
Galena Biopharma (GALE) traded down 3.4146% during trading on Tuesday, hitting $0.3564. 364,843 shares of the stock traded hands. The firm’s 50-day moving average is $0.54 and its 200-day moving average is $0.64. The stock’s market cap is $13.34 million. Galena Biopharma has a 12 month low of $0.26 and a 12 month high of $9.10.
GALE has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Galena Biopharma from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. ValuEngine lowered shares of Galena Biopharma from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Finally, Maxim Group reissued a “hold” rating on shares of Galena Biopharma in a research report on Wednesday, August 9th.
Large investors have recently modified their holdings of the company. Virtu KCG Holdings LLC increased its stake in shares of Galena Biopharma by 677.4% in the second quarter. Virtu KCG Holdings LLC now owns 224,050 shares of the biotechnology company’s stock valued at $130,000 after buying an additional 195,230 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Galena Biopharma by 1.0% in the second quarter. Vanguard Group Inc. now owns 1,332,434 shares of the biotechnology company’s stock valued at $774,000 after buying an additional 13,302 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Galena Biopharma during the first quarter valued at $976,000. 21.73% of the stock is owned by hedge funds and other institutional investors.
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Galena Biopharma Company Profile
Galena Biopharma, Inc is a biopharmaceutical company. The Company focuses on developing and commercializing targeted oncology therapeutics that address unmet medical needs. The Company’s development portfolio ranges from mid- to late-stage clinical assets, including cancer immunotherapy program led by NeuVax (nelipepimut-S), GALE-301 and GALE-302.
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