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

Galectin Therapeutics Inc. (NASDAQ:GALT) insider Khurram Jamil sold 7,557 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $3.14, for a total transaction of $23,728.98. Following the completion of the sale, the insider owned 7,557 shares of the company’s stock, valued at approximately $23,728.98. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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 transaction of $1,760.80.

Galectin Therapeutics Stock Performance

Shares of Galectin Therapeutics stock opened at $4.23 on Friday. The firm’s 50-day simple moving average is $2.50 and its 200-day simple moving average is $3.08. Galectin Therapeutics Inc. has a twelve month low of $2.03 and a twelve month high of $7.13. The firm has a market cap of $278.59 million, a P/E ratio of -10.32 and a beta of 0.47.

Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). On average, equities analysts forecast that Galectin Therapeutics Inc. will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in shares of Galectin Therapeutics by 101.4% in the 4th quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock valued at $49,000 after buying an additional 19,316 shares in the last quarter. XTX Topco Ltd lifted its holdings in Galectin Therapeutics by 226.6% during the second quarter. XTX Topco Ltd now owns 42,805 shares of the company’s stock worth $90,000 after acquiring an additional 29,699 shares in the last quarter. Marshall Wace LLP bought a new position in Galectin Therapeutics during the second quarter worth about $64,000. Vivaldi Capital Management LP increased its holdings in shares of Galectin Therapeutics by 210.0% in the second quarter. Vivaldi Capital Management LP now owns 172,443 shares of the company’s stock worth $364,000 after acquiring an additional 116,815 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Galectin Therapeutics in the second quarter worth about $1,580,000. Institutional investors and hedge funds own 11.68% of the company’s stock.

Analysts Set New Price Targets

GALT has been the subject of several research reports. Wall Street Zen upgraded shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings raised shares of Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a report on Tuesday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Galectin Therapeutics currently has an average rating of “Hold” and a consensus target price 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.