Galectin Therapeutics (NASDAQ:GALT) Director Sells $112,230.72 in Stock

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

Galectin Therapeutics Stock Down 6.6%

NASDAQ:GALT traded down $0.33 on Tuesday, hitting $4.64. The stock had a trading volume of 1,122,352 shares, compared to its average volume of 992,716. The stock has a market cap of $305.59 million, a price-to-earnings ratio of -11.32 and a beta of 0.47. The business’s 50-day simple moving average is $2.65 and its two-hundred day simple moving average is $3.06. Galectin Therapeutics Inc. has a 52-week low of $2.03 and a 52-week high of $7.13.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). As a group, equities research analysts anticipate that Galectin Therapeutics Inc. will post -0.37 EPS for the current year.

Hedge Funds Weigh In On Galectin Therapeutics

Large investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its position in shares of Galectin Therapeutics by 101.4% during 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. Invesco Ltd. bought a new stake in Galectin Therapeutics in the fourth quarter worth $43,000. Royal Bank of Canada raised its stake in Galectin Therapeutics by 1,197.3% during 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 in the last quarter. Renaissance Technologies LLC purchased a new stake in Galectin Therapeutics during the first quarter valued at $413,000. Finally, Vivaldi Capital Management LP lifted its position in Galectin Therapeutics by 26.7% during the first quarter. Vivaldi Capital Management LP now owns 258,584 shares of the company’s stock valued at $721,000 after purchasing an additional 54,514 shares during the last quarter. 11.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

About Galectin Therapeutics

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.