Galena Biopharma, Inc. (GALE) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Galena Biopharma, Inc. (NASDAQ:GALE) issued its quarterly earnings results on Monday. The biotechnology company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by $0.01, Morningstar.com reports. During the same period in the previous year, the business earned $0.05 EPS.
Shares of Galena Biopharma (NASDAQ GALE) traded down 1.6292% during trading on Wednesday, reaching $0.3502. 20,056 shares of the company traded hands. Galena Biopharma has a 12 month low of $0.26 and a 12 month high of $9.10. The firm’s market capitalization is $13.11 million. The firm has a 50-day moving average price of $0.54 and a 200-day moving average price of $0.63.
Several brokerages recently commented on GALE. Maxim Group reaffirmed a “hold” rating on shares of Galena Biopharma in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Galena Biopharma from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Finally, ValuEngine lowered shares of Galena Biopharma from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd.
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Several hedge funds have recently bought and sold shares of GALE. Virtu KCG Holdings LLC boosted its stake in 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. boosted its stake in 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 Galena Biopharma during the first quarter valued at approximately $976,000. Institutional investors and hedge funds own 21.73% of the company’s stock.
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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