Galectin Therapeutics (NASDAQ:GALT) Insider Sells $239,233.68 in Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) insider Khurram Jamil sold 47,467 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $5.04, for a total value of $239,233.68. Following the sale, the insider owned 2,037 shares of the company’s stock, valued at approximately $10,266.48. This represents a 95.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, June 26th, Khurram Jamil sold 4,570 shares of Galectin Therapeutics stock. The stock was sold at an average price of $5.00, for a total value of $22,850.00.
• 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 transaction 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 transaction of $1,760.80.

Galectin Therapeutics Trading Up 4.2%

GALT opened at $4.51 on Friday. The company’s fifty day moving average price is $2.73 and its two-hundred day moving average price is $3.03. Galectin Therapeutics Inc. has a 1-year low of $2.03 and a 1-year high of $7.13. The company has a market cap of $297.03 million, a price-to-earnings ratio of -11.00 and a beta of 0.35.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). As a group, equities analysts forecast that Galectin Therapeutics Inc. will post -0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on GALT shares. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a research report on Tuesday, June 23rd. Weiss Ratings raised Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. Finally, Wall Street Zen raised Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.00.

Institutional Inflows and Outflows

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

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.