Insider Selling: Galectin Therapeutics (NASDAQ:GALT) Insider Sells 7,557 Shares of Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) insider Khurram Jamil sold 7,557 shares of Galectin Therapeutics stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $3.14, for a total transaction of $23,728.98. Following the completion of the sale, the insider owned 7,557 shares in the company, valued at approximately $23,728.98. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 Up 7.9%

Shares of NASDAQ:GALT traded up $0.31 on Thursday, hitting $4.23. The company had a trading volume of 1,846,621 shares, compared to its average volume of 393,492. The firm’s 50-day simple moving average is $2.46 and its two-hundred day simple moving average is $3.09. Galectin Therapeutics Inc. has a 1 year low of $2.03 and a 1 year high of $7.13. The firm has a market capitalization of $278.59 million, a price-to-earnings ratio of -10.32 and a beta of 0.47.

Galectin Therapeutics (NASDAQ:GALT) last announced its earnings results 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). Equities research analysts anticipate that Galectin Therapeutics Inc. will post -0.37 EPS for the current year.

Analysts Set New Price Targets

GALT has been the topic of several research reports. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of Galectin Therapeutics in a research report on Tuesday. Wall Street Zen raised Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report 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 investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.00.

Institutional Investors Weigh In On Galectin Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in shares of Galectin Therapeutics by 101.4% in 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. XTX Topco Ltd boosted its stake in Galectin Therapeutics by 226.6% in the 2nd quarter. XTX Topco Ltd now owns 42,805 shares of the company’s stock worth $90,000 after purchasing an additional 29,699 shares in the last quarter. Marshall Wace LLP purchased a new stake in Galectin Therapeutics during the 2nd quarter valued at about $64,000. Vivaldi Capital Management LP increased its stake in Galectin Therapeutics by 210.0% during the 2nd quarter. Vivaldi Capital Management LP now owns 172,443 shares of the company’s stock valued at $364,000 after purchasing an additional 116,815 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Galectin Therapeutics in the second quarter worth about $1,580,000. 11.68% of the stock is owned by 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.