Insider Selling: Galectin Therapeutics (NASDAQ:GALT) Director Sells 16,790 Shares of Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) Director Harold Shlevin sold 16,790 shares of Galectin Therapeutics stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $6.27, for a total transaction of $105,273.30. Following the completion of the transaction, the director directly owned 11,206 shares in the company, valued at approximately $70,261.62. The trade was a 59.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Galectin Therapeutics Stock Up 2.4%

Shares of GALT stock opened at $6.09 on Wednesday. The company has a market capitalization of $392.30 million, a price-to-earnings ratio of -10.31 and a beta of 0.95. Galectin Therapeutics Inc. has a 12-month low of $0.73 and a 12-month high of $6.66. The firm has a fifty day moving average of $5.35 and a 200-day moving average of $3.95.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). On average, equities analysts expect that Galectin Therapeutics Inc. will post -0.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Galectin Therapeutics in a report on Thursday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Galectin Therapeutics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Institutional Investors Weigh In On Galectin Therapeutics

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Galectin Therapeutics by 2.9% in the third quarter. Vanguard Group Inc. now owns 2,247,967 shares of the company’s stock valued at $9,520,000 after purchasing an additional 63,419 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of Galectin Therapeutics by 3.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,265,384 shares of the company’s stock worth $2,670,000 after buying an additional 41,968 shares during the period. Jane Street Group LLC acquired a new position in Galectin Therapeutics in the 2nd quarter valued at about $1,580,000. Wealthspire Advisors LLC raised its holdings in Galectin Therapeutics by 20.4% in the 2nd quarter. Wealthspire Advisors LLC now owns 479,518 shares of the company’s stock valued at $1,012,000 after acquiring an additional 81,144 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Galectin Therapeutics by 8.8% during the first quarter. Geneos Wealth Management Inc. now owns 423,235 shares of the company’s stock worth $516,000 after acquiring an additional 34,300 shares during the last quarter. Institutional investors own 11.68% of the company’s stock.

Galectin Therapeutics Company Profile

Galectin Therapeutics Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, cancer, and other diseases. Its lead product candidate is belapectin (GR-MD-02) galectin-3 inhibitor, that is in Phase 2b/3 clinical trial, to prevent esophageal varices in patient with non-alcoholic steatohepatitis (NASH) cirrhosis; and Phase 2 clinical trial for the treatment of liver fibrosis, as well as severe skin disease, and melanoma and head and neck squamous cell carcinoma.