Galectin Therapeutics (NASDAQ:GALT) Insider Khurram Jamil Sells 4,570 Shares

Galectin Therapeutics Inc. (NASDAQ:GALT) insider Khurram Jamil sold 4,570 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $5.00, for a total transaction of $22,850.00. Following the transaction, the insider directly owned 2,037 shares of the company’s stock, valued at $10,185. This represents a 69.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Khurram Jamil also recently made the following trade(s):

• On Monday, June 29th, Khurram Jamil sold 47,467 shares of Galectin Therapeutics stock. The shares were sold at an average price of $5.04, for a total transaction of $239,233.68.
• On Tuesday, June 23rd, Khurram Jamil sold 7,557 shares of Galectin Therapeutics stock. The shares were sold at an average price of $3.14, for a total value of $23,728.98.
• On Tuesday, May 26th, Khurram Jamil sold 568 shares of Galectin Therapeutics stock. The shares were sold at an average price of $3.10, for a total value of $1,760.80.

Galectin Therapeutics Trading Down 6.6%

NASDAQ GALT opened at $4.64 on Wednesday. The business’s 50 day moving average is $2.65 and its two-hundred day moving average is $3.06. Galectin Therapeutics Inc. has a 12-month low of $2.03 and a 12-month high of $7.13. The stock has a market capitalization of $305.59 million, a price-to-earnings ratio of -11.32 and a beta of 0.47.

Galectin Therapeutics (NASDAQ:GALT) last posted 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). Equities analysts forecast that Galectin Therapeutics Inc. will post -0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GALT has been the subject of a number of recent analyst reports. Wall Street Zen raised Galectin Therapeutics from a “sell” rating to a “hold” rating in a 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 reiterated a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Galectin Therapeutics currently has an average rating of “Hold” and an average price target of $11.00.

Institutional Investors Weigh In On Galectin Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Galectin Therapeutics by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,247,967 shares of the company’s stock worth $9,520,000 after acquiring an additional 63,419 shares in the last quarter. Jane Street Group LLC purchased a new position in Galectin Therapeutics in the 2nd quarter valued at approximately $1,580,000. Marshall Wace LLP increased its stake in Galectin Therapeutics by 8.6% in the 4th quarter. Marshall Wace LLP now owns 602,134 shares of the company’s stock valued at $2,505,000 after purchasing an additional 47,873 shares in the last quarter. Wealthspire Advisors LLC raised its holdings in Galectin Therapeutics by 25.5% during the fourth quarter. Wealthspire Advisors LLC now owns 601,973 shares of the company’s stock worth $2,504,000 after purchasing an additional 122,455 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Galectin Therapeutics by 13.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 334,096 shares of the company’s stock worth $1,390,000 after purchasing an additional 39,195 shares during the last quarter. 11.68% of the stock is currently owned by institutional investors and hedge funds.

Galectin Therapeutics Company Profile

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.