Stock Traders Purchase Large Volume of Galectin Therapeutics Put Options (NASDAQ:GALT)

Galectin Therapeutics Inc. (NASDAQ:GALT) was the recipient of unusually large options trading activity on Monday. Stock investors acquired 14,331 put options on the company. This represents an increase of approximately 557% compared to the typical volume of 2,182 put options.

Galectin Therapeutics Stock Performance

NASDAQ GALT traded up $0.19 on Monday, hitting $2.30. The stock had a trading volume of 377,785 shares, compared to its average volume of 176,201. The firm has a 50-day moving average of $2.59 and a 200-day moving average of $2.52. Galectin Therapeutics has a 52-week low of $1.55 and a 52-week high of $4.27. The company has a market capitalization of $144.04 million, a price-to-earnings ratio of -3.19 and a beta of 0.69.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GALT. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a report on Friday, November 15th. StockNews.com raised Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

Institutional Investors Weigh In On Galectin Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Galectin Therapeutics by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock worth $4,732,000 after acquiring an additional 38,037 shares during the last quarter. Traynor Capital Management Inc. increased its position in shares of Galectin Therapeutics by 23.5% in the second quarter. Traynor Capital Management Inc. now owns 42,871 shares of the company’s stock worth $97,000 after purchasing an additional 8,164 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Galectin Therapeutics in the second quarter valued at approximately $146,000. Commonwealth Equity Services LLC lifted its position in Galectin Therapeutics by 317.6% during the second quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock valued at $1,092,000 after purchasing an additional 367,610 shares during the last quarter. Finally, Rhumbline Advisers bought a new stake in Galectin Therapeutics during the second quarter valued at approximately $44,000. 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, 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.