Insider Selling: Galectin Therapeutics (NASDAQ:GALT) Director Sells $38,660.00 in Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) Director Harold Shlevin sold 7,732 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $5.00, for a total transaction of $38,660.00. Following the completion of the transaction, the director owned 6,500 shares in the company, valued at approximately $32,500. The trade was a 54.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Galectin Therapeutics Stock Up 4.2%

Galectin Therapeutics stock opened at $4.51 on Friday. The firm has a 50 day moving average price of $2.73 and a 200-day moving average price of $3.03. 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 $297.03 million, a P/E ratio of -11.00 and a beta of 0.35.

Galectin Therapeutics (NASDAQ:GALT) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Equities analysts expect that Galectin Therapeutics Inc. will post -0.37 EPS for the current fiscal year.

Institutional Trading of Galectin Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of GALT. Royal Bank of Canada lifted its stake 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 worth $25,000 after purchasing an additional 5,699 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of Galectin Therapeutics in the fourth quarter worth $43,000. Bank of America Corp DE raised its position 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 buying an additional 19,316 shares in the last quarter. Cetera Investment Advisers bought a new stake in Galectin Therapeutics during the fourth quarter valued at $59,000. Finally, Hudson Bay Capital Management LP purchased a new position in Galectin Therapeutics during the third quarter worth about $63,000. Institutional investors own 11.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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