Traynor Capital Management Inc. Buys 12,799 Shares of Galectin Therapeutics Inc. (NASDAQ:GALT)

Traynor Capital Management Inc. increased its stake in Galectin Therapeutics Inc. (NASDAQ:GALT) by 29.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,670 shares of the company’s stock after purchasing an additional 12,799 shares during the quarter. Traynor Capital Management Inc.’s holdings in Galectin Therapeutics were worth $72,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Galectin Therapeutics by 46.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 51,369 shares of the company’s stock valued at $66,000 after acquiring an additional 16,271 shares during the period. Marshall Wace LLP bought a new position in shares of Galectin Therapeutics in the 2nd quarter worth approximately $43,000. JPMorgan Chase & Co. lifted its stake in shares of Galectin Therapeutics by 161.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,628 shares of the company’s stock worth $84,000 after purchasing an additional 18,907 shares during the period. Rhumbline Advisers purchased a new position in shares of Galectin Therapeutics in the second quarter worth approximately $44,000. Finally, Geode Capital Management LLC grew its position in Galectin Therapeutics by 2.5% during the third quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock valued at $2,372,000 after buying an additional 20,817 shares during the period. Institutional investors own 11.68% of the company’s stock.

Galectin Therapeutics Trading Up 1.7 %

Galectin Therapeutics stock opened at $1.23 on Friday. Galectin Therapeutics Inc. has a 12-month low of $0.73 and a 12-month high of $4.27. The firm has a market capitalization of $77.19 million, a price-to-earnings ratio of -1.68 and a beta of 0.83. The firm has a 50 day moving average of $1.78 and a 200 day moving average of $2.28.

Insider Transactions at Galectin Therapeutics

In other news, CFO Jack W. Callicutt sold 40,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $0.89, for a total value of $35,600.00. Following the completion of the transaction, the chief financial officer now owns 7,614 shares of the company’s stock, valued at $6,776.46. This represents a 84.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joel Lewis sold 56,000 shares of Galectin Therapeutics stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $0.89, for a total value of $49,840.00. Following the sale, the chief executive officer now directly owns 897,012 shares in the company, valued at $798,340.68. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,654 shares of company stock valued at $97,456 over the last three months. Corporate insiders own 50.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GALT shares. StockNews.com cut shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, December 30th. HC Wainwright reiterated a “neutral” rating on shares of Galectin Therapeutics in a research report on Friday, December 27th.

About Galectin Therapeutics

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.