GALT cross above 200 day moving average after a lengthy period of consolidation in tightening trading range.
Cup and handle.
Leading drug in a pivotal clinical trial for advanced cirrhosis.
High insider ownership of shares
Recent hiring of a renowned liver expert VP from big pharma
Several insider buys from board of directors members in recent days.
CEO takes 80% pay in shares.
The multi-billionaire chairman added $40 million stake in past couple years.
Also, there is strong support at this price level.
Looks like GALT is back hanging out around the 786 level again. This is where it was trading around before the last big spike. But there's also another level to keep track of which is the 200DMA. Now that GALT is below this level, the 200 might be another possible area of resistance. Given the post-market action on Friday (7/30), GALT managed to break above the...
GALT reported positive results for cancer immunotherapy one week ago. This was followed by algorithm trading taking the stock price lower. There is high open interest on $3, $4, and $5 calls expiring today. The price should reverse and move higher with the expiration of these calls, since the options traders accomplished what they were after to keep below the...
-Earnings are forecast to decline by an average of 17.4% per year for the next 3 years
-Highly volatile share price over the past 3 months
-Currently unprofitable and not forecast to become profitable over the next 3 years
Bullish reversal indicators.
Increasing volume with solid support, as GALT enters 2021 catalysts.
NASDAQ:GALT
Due Diligence Cliff's Notes:
— Leading inhibitor under development for Galectin-3, key native immune system protein involved in numerous inflammatory and fibrotic diseases and various cancers.
— The only drug that has ever shown any clinically meaningful...
massive H&S but also breaking out of a downtrend. MA's on the weekly are bullish above the 40MA. tight range. swing here on daily time frame or look for break out on weekly chart. long 2.90, stop at 2.40 $XBI
Very bullish action in the stock which has been stalled by the 200MA acting as strong resistance.
A break above could see a nice bull run to FIB Resistance @ $5.
Indicator bullish.
Average analysts price target $11
Average analysts recommendation BUY
Short interest 8.47%
Company profile
Galectin Therapeutics, Inc. is a biotechnology company, which...
