Galectin Therapeutics Inc. (NASDAQ:GALT) Short Interest Update

Galectin Therapeutics Inc. (NASDAQ:GALT) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 2,250,000 shares, a growth of 5.1% from the March 15th total of 2,140,000 shares. Currently, 5.3% of the company’s stock are short sold. Based on an average daily volume of 105,800 shares, the days-to-cover ratio is currently 21.3 days.

Hedge Funds Weigh In On Galectin Therapeutics

Several large investors have recently bought and sold shares of the business. Osaic Holdings Inc. grew its stake in Galectin Therapeutics by 12.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,435,557 shares of the company’s stock worth $2,067,000 after buying an additional 163,797 shares during the last quarter. Geode Capital Management LLC increased its stake in Galectin Therapeutics by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 521,678 shares of the company’s stock valued at $1,096,000 after buying an additional 7,863 shares during the period. Atria Wealth Solutions Inc. acquired a new position in Galectin Therapeutics in the 1st quarter valued at $460,000. Millennium Management LLC lifted its stake in shares of Galectin Therapeutics by 7.8% in the 4th quarter. Millennium Management LLC now owns 260,906 shares of the company’s stock worth $295,000 after acquiring an additional 18,959 shares during the period. Finally, State Street Corp increased its stake in shares of Galectin Therapeutics by 9.4% during the first quarter. State Street Corp now owns 173,740 shares of the company’s stock worth $280,000 after acquiring an additional 14,981 shares during the period. Hedge funds and other institutional investors own 11.68% of the company’s stock.

Wall Street Analyst Weigh In

GALT has been the subject of a number of research reports. StockNews.com upgraded shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, April 1st. HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a research note on Tuesday, April 9th.

Galectin Therapeutics Stock Performance

Shares of GALT opened at $3.38 on Thursday. Galectin Therapeutics has a 1 year low of $1.28 and a 1 year high of $4.27. The stock has a market capitalization of $209.22 million, a PE ratio of -4.57 and a beta of 0.84. The stock has a 50-day simple moving average of $2.38 and a 200-day simple moving average of $2.06.

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, 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.