Khurram Jamil Sells 47,467 Shares of Galectin Therapeutics (NASDAQ:GALT) Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) insider Khurram Jamil sold 47,467 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $5.04, for a total transaction of $239,233.68. Following the transaction, the insider owned 2,037 shares of the company’s stock, valued at approximately $10,266.48. The trade was a 95.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Khurram Jamil also recently made the following trade(s):

• On Friday, June 26th, Khurram Jamil sold 4,570 shares of Galectin Therapeutics stock. The shares were sold at an average price of $5.00, for a total transaction of $22,850.00.
• On Tuesday, June 23rd, Khurram Jamil sold 7,557 shares of Galectin Therapeutics stock. The stock was sold at an average price of $3.14, for a total transaction of $23,728.98.
• On Tuesday, May 26th, Khurram Jamil sold 568 shares of Galectin Therapeutics stock. The stock was sold at an average price of $3.10, for a total transaction of $1,760.80.

Galectin Therapeutics Stock Performance

NASDAQ:GALT traded down $0.33 during mid-day trading on Tuesday, reaching $4.64. The stock had a trading volume of 1,122,352 shares, compared to its average volume of 992,716. The firm has a market capitalization of $305.59 million, a price-to-earnings ratio of -11.32 and a beta of 0.47. Galectin Therapeutics Inc. has a twelve month low of $2.03 and a twelve month high of $7.13. The business has a 50 day simple moving average of $2.65 and a 200 day simple moving average of $3.06.

Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). As a group, sell-side analysts expect that Galectin Therapeutics Inc. will post -0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GALT. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Galectin Therapeutics in a report on Tuesday, June 23rd. Wall Street Zen raised shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings upgraded shares of Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Galectin Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $11.00.

Institutional Trading of Galectin Therapeutics

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Galectin Therapeutics by 1,197.3% in the fourth quarter. Royal Bank of Canada now owns 6,175 shares of the company’s stock valued at $25,000 after purchasing an additional 5,699 shares during the last quarter. Invesco Ltd. acquired a new stake in Galectin Therapeutics in the 4th quarter valued at about $43,000. Bank of America Corp DE grew its stake in Galectin Therapeutics by 101.4% in the 4th quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock valued at $49,000 after acquiring an additional 19,316 shares during the last quarter. Cetera Investment Advisers purchased a new position in Galectin Therapeutics during the 4th quarter valued at about $59,000. Finally, Hudson Bay Capital Management LP purchased a new position in Galectin Therapeutics during the 3rd quarter valued at about $63,000. 11.68% of the stock is currently owned by hedge funds and other institutional investors.

Galectin Therapeutics Company Profile

Galectin Therapeutics, Inc is a clinical-stage biotechnology company focused on the development of novel therapies that target galectin proteins, which are implicated in fibrotic, inflammatory and malignant diseases. The company’s lead product candidate, belapectin (formerly GR-MD-02), is a galectin-3 inhibitor being evaluated in Phase 2 clinical trials for nonalcoholic steatohepatitis (NASH) with cirrhosis. In addition to its core pipeline in fibrotic liver disease, Galectin Therapeutics continues to explore the potential of its galectin inhibitors in oncology and other indications driven by abnormal tissue remodeling.

Founded in 2000, the company is headquartered in Norcross, Georgia, where it oversees discovery research, preclinical studies and clinical trial coordination.