Insider Selling: Galectin Therapeutics (NASDAQ:GALT) Director Sells 22,268 Shares of Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) Director Harold Shlevin sold 22,268 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $5.04, for a total transaction of $112,230.72. Following the sale, the director owned 6,500 shares in the company, valued at $32,760. This represents a 77.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Galectin Therapeutics Trading Down 6.6%

Shares of NASDAQ:GALT traded down $0.33 during trading on Tuesday, reaching $4.64. The company’s stock had a trading volume of 1,122,352 shares, compared to its average volume of 992,716. The stock has a market capitalization of $305.59 million, a PE ratio of -11.32 and a beta of 0.47. Galectin Therapeutics Inc. has a 12 month low of $2.03 and a 12 month high of $7.13. The firm’s 50 day simple moving average is $2.65 and its two-hundred day simple moving average is $3.06.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Research analysts anticipate that Galectin Therapeutics Inc. will post -0.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GALT. Wall Street Zen raised Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a research report on Tuesday, June 23rd. Finally, Weiss Ratings raised shares of Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Galectin Therapeutics has a consensus rating of “Hold” and a consensus price target of $11.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in Galectin Therapeutics by 1,197.3% in the 4th quarter. Royal Bank of Canada now owns 6,175 shares of the company’s stock valued at $25,000 after buying an additional 5,699 shares during the period. Invesco Ltd. purchased a new position in shares of Galectin Therapeutics during the fourth quarter worth approximately $43,000. Bank of America Corp DE raised its stake 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 valued at $49,000 after acquiring an additional 19,316 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Galectin Therapeutics during the fourth quarter valued at approximately $59,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Galectin Therapeutics in the third quarter valued at approximately $63,000. 11.68% of the stock is currently 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.