Galectin Therapeutics (NASDAQ:GALT) Insider Sells $239,233.68 in Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) insider Khurram Jamil sold 47,467 shares of Galectin Therapeutics 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 sale, the insider owned 2,037 shares in the company, valued at $10,266.48. This represents a 95.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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 value 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 value of $1,760.80.

Galectin Therapeutics Price Performance

Shares of GALT traded down $0.33 during midday trading on Tuesday, reaching $4.64. 1,122,352 shares of the stock were exchanged, compared to its average volume of 992,716. The business’s 50-day moving average price is $2.65 and its 200 day moving average price is $3.06. Galectin Therapeutics Inc. has a twelve month low of $2.03 and a twelve month high of $7.13. The company has a market capitalization of $305.59 million, a price-to-earnings ratio of -11.32 and a beta of 0.47.

Galectin Therapeutics (NASDAQ:GALT) last posted its earnings results 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). As a group, equities research analysts expect that Galectin Therapeutics Inc. will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Galectin Therapeutics

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

Wall Street Analyst Weigh In

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

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.