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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GALT shares. StockNews.com upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of Galectin Therapeutics in a research report on Tuesday, April 9th.

Galectin Therapeutics Stock Performance

Shares of NASDAQ:GALT remained flat at $3.40 on Wednesday. The stock had a trading volume of 106,421 shares, compared to its average volume of 124,068. Galectin Therapeutics has a one year low of $1.28 and a one year high of $4.27. The firm has a fifty day simple moving average of $2.34 and a 200 day simple moving average of $2.05.

Institutional Trading of Galectin Therapeutics

A number of hedge funds have recently modified their holdings of GALT. PNC Financial Services Group Inc. lifted its holdings in shares of Galectin Therapeutics by 21.7% in the first quarter. PNC Financial Services Group Inc. now owns 56,184 shares of the company’s stock valued at $90,000 after purchasing an additional 10,000 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in shares of Galectin Therapeutics in the first quarter valued at $34,000. Atria Wealth Solutions Inc. acquired a new position in shares of Galectin Therapeutics in the first quarter worth $460,000. State Street Corp increased its stake in shares of Galectin Therapeutics by 9.4% in 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 last quarter. Finally, MML Investors Services LLC increased its stake in shares of Galectin Therapeutics by 28.4% in the third quarter. MML Investors Services LLC now owns 49,777 shares of the company’s stock worth $81,000 after acquiring an additional 11,000 shares during the last 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, 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.