Galena Biopharma (GALE) Shares Down 6.7%

Galena Biopharma, Inc. (NASDAQ:GALE) shares fell 6.7% during mid-day trading on Tuesday . The company traded as low as $0.26 and last traded at $0.28. 1,327,012 shares traded hands during trading, an increase of 23% from the average session volume of 1,082,940 shares. The stock had previously closed at $0.30.

Separately, Maxim Group reaffirmed a “hold” rating on shares of Galena Biopharma in a report on Wednesday, August 9th.

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new position in shares of Galena Biopharma during the first quarter valued at $976,000. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 13,302 shares during the period. Vaughan David Investments Inc. IL lifted its holdings in Galena Biopharma by 6,545.7% in the third quarter. Vaughan David Investments Inc. IL now owns 864,076 shares of the biotechnology company’s stock valued at $20,893,000 after acquiring an additional 851,074 shares during the period. Finally, Virtu KCG Holdings LLC lifted its holdings 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 acquiring an additional 195,230 shares during the period. 19.00% of the stock is currently owned by hedge funds and other institutional investors.

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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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