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

Galectin Therapeutics Inc. (NASDAQ:GALT) insider Khurram Jamil sold 7,557 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $3.14, for a total value of $23,728.98. Following the transaction, the insider directly owned 7,557 shares in the company, valued at approximately $23,728.98. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 value of $1,760.80.

Galectin Therapeutics Price Performance

NASDAQ GALT traded up $0.31 on Thursday, reaching $4.23. 1,846,621 shares of the company’s stock traded hands, compared to its average volume of 393,492. Galectin Therapeutics Inc. has a 12 month low of $2.03 and a 12 month high of $7.13. The stock has a 50-day simple moving average of $2.46 and a 200 day simple moving average of $3.09. The stock has a market cap of $278.59 million, a PE ratio of -10.32 and a beta of 0.47.

Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings data 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). As a group, analysts anticipate that Galectin Therapeutics Inc. will post -0.37 EPS for the current year.

Hedge Funds Weigh In On Galectin Therapeutics

A number of hedge funds have recently modified their holdings of GALT. 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 purchasing an additional 19,316 shares during the last quarter. XTX Topco Ltd lifted its holdings 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 buying an additional 29,699 shares during the period. Marshall Wace LLP purchased a new stake in Galectin Therapeutics in the 2nd quarter worth approximately $64,000. Vivaldi Capital Management LP grew its position in shares of Galectin Therapeutics by 210.0% in the 2nd quarter. Vivaldi Capital Management LP now owns 172,443 shares of the company’s stock worth $364,000 after buying an additional 116,815 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Galectin Therapeutics in the 2nd quarter worth approximately $1,580,000. Hedge funds and other institutional investors own 11.68% of the company’s stock.

Analysts Set New Price Targets

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