Galectin Therapeutics (NASDAQ:GALT) Insider Sells 121,117 Shares

by · The Cerbat Gem

Galectin Therapeutics Inc. (NASDAQ:GALT – Get Free Report) insider Khurram Jamil sold 121,117 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $5.47, for a total transaction of $662,509.99. Following the transaction, the insider owned 4,479 shares in the company, valued at approximately $24,500.13. The trade was a 96.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Galectin Therapeutics Price Performance

GALT stock traded down $0.02 on Friday, hitting $5.51. 238,869 shares of the company were exchanged, compared to its average volume of 390,645. The stock has a market capitalization of $355.28 million, a price-to-earnings ratio of -8.61 and a beta of 0.86. Galectin Therapeutics Inc. has a twelve month low of $0.73 and a twelve month high of $6.55. The business’s fifty day moving average is $4.98 and its two-hundred day moving average is $3.36.

Galectin Therapeutics (NASDAQ:GALT – Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Equities research analysts expect that Galectin Therapeutics Inc. will post -0.73 earnings per share for the current year.

Hedge Funds Weigh In On Galectin Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen LLC purchased a new position in shares of Galectin Therapeutics in the first quarter valued at $34,000. Atwood & Palmer Inc. purchased a new position in Galectin Therapeutics in the 3rd quarter valued at about $42,000. Archer Investment Corp acquired a new stake in shares of Galectin Therapeutics during the third quarter valued at about $47,000. Bank of America Corp DE increased its position in shares of Galectin Therapeutics by 101.4% during the fourth quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock worth $49,000 after acquiring an additional 19,316 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Galectin Therapeutics in the second quarter worth about $64,000. 11.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Galectin Therapeutics in a research note on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Galectin Therapeutics in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Galectin Therapeutics presently has an average rating of “Hold” and a consensus price target of $6.00.

View Our Latest Stock Analysis on GALT

About Galectin Therapeutics

(Get Free Report)

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.

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