Insider Selling: Galectin Therapeutics (NASDAQ:GALT) CEO Sells $108,428.21 in Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Joel Lewis sold 27,731 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $3.91, for a total transaction of $108,428.21. Following the sale, the chief executive officer owned 870,290 shares of the company’s stock, valued at $3,402,833.90. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Joel Lewis also recently made the following trade(s):

• On Tuesday, January 6th, Joel Lewis sold 37,698 shares of Galectin Therapeutics stock. The stock was sold at an average price of $3.58, for a total value of $134,958.84.
• On Friday, January 2nd, Joel Lewis sold 18,571 shares of Galectin Therapeutics stock. The stock was sold at an average price of $4.20, for a total value of $77,998.20.
• On Wednesday, December 17th, Joel Lewis sold 7,829 shares of Galectin Therapeutics stock. The stock was sold at an average price of $7.06, for a total value of $55,272.74.
• On Wednesday, November 5th, Joel Lewis sold 200 shares of Galectin Therapeutics stock. The shares were sold at an average price of $6.00, for a total value of $1,200.00.
• On Tuesday, November 4th, Joel Lewis sold 14,420 shares of Galectin Therapeutics stock. The stock was sold at an average price of $6.07, for a total value of $87,529.40.
• On Monday, November 3rd, Joel Lewis sold 1,300 shares of Galectin Therapeutics stock. The stock was sold at an average price of $6.01, for a total value of $7,813.00.

Galectin Therapeutics Stock Performance

Shares of Galectin Therapeutics stock opened at $3.20 on Friday. The firm has a 50-day moving average of $5.24 and a 200-day moving average of $4.38. Galectin Therapeutics Inc. has a 52-week low of $1.07 and a 52-week high of $7.13. The stock has a market cap of $206.30 million, a PE ratio of -5.42 and a beta of 1.03.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Equities research analysts predict that Galectin Therapeutics Inc. will post -0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GALT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Galectin Therapeutics in a research report on Wednesday, October 8th. HC Wainwright increased their target price on Galectin Therapeutics from $6.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $11.00.

Institutional Investors Weigh In On Galectin Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atwood & Palmer Inc. acquired a new stake in shares of Galectin Therapeutics in the 3rd quarter valued at $42,000. Archer Investment Corp bought a new stake in shares of Galectin Therapeutics during the 3rd quarter worth $47,000. Hudson Bay Capital Management LP acquired a new stake in Galectin Therapeutics in the third quarter valued at about $63,000. JPMorgan Chase & Co. boosted its stake in Galectin Therapeutics by 25.4% in the third quarter. JPMorgan Chase & Co. now owns 15,470 shares of the company’s stock valued at $66,000 after buying an additional 3,133 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in Galectin Therapeutics in the third quarter valued at about $70,000. 11.68% of the stock is currently owned by institutional investors.

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.