Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Sells 56,000 Shares of Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Joel Lewis sold 56,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $0.89, for a total transaction of $49,840.00. Following the sale, the chief executive officer now directly owns 897,012 shares of the company’s stock, valued at $798,340.68. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Galectin Therapeutics Price Performance

GALT traded up $0.08 during trading hours on Thursday, reaching $0.92. 372,379 shares of the stock traded hands, compared to its average volume of 239,177. Galectin Therapeutics Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $4.27. The company has a market cap of $57.87 million, a price-to-earnings ratio of -1.26 and a beta of 0.69. The firm’s fifty day simple moving average is $2.41 and its two-hundred day simple moving average is $2.45.

Institutional Investors Weigh In On Galectin Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC boosted its stake in shares of Galectin Therapeutics by 317.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock valued at $1,092,000 after buying an additional 367,610 shares during the last quarter. Soltis Investment Advisors LLC acquired a new stake in Galectin Therapeutics in the third quarter valued at $387,000. Sanctuary Advisors LLC bought a new position in Galectin Therapeutics during the 2nd quarter valued at $227,000. Bank of New York Mellon Corp bought a new stake in shares of Galectin Therapeutics in the 2nd quarter worth about $146,000. Finally, Kovitz Investment Group Partners LLC acquired a new stake in shares of Galectin Therapeutics in the 3rd quarter valued at about $117,000. 11.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on GALT. StockNews.com upgraded shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a report on Friday, November 15th.

Galectin Therapeutics Company Profile

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.