Galectin Therapeutics (NASDAQ:GALT) Director Harold Shlevin Sells 7,732 Shares

Galectin Therapeutics Inc. (NASDAQ:GALT) Director Harold Shlevin sold 7,732 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $5.00, for a total value of $38,660.00. Following the completion of the transaction, the director directly owned 6,500 shares in the company, valued at $32,500. This represents a 54.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Galectin Therapeutics Price Performance

Shares of Galectin Therapeutics stock opened at $4.64 on Wednesday. The stock’s 50-day moving average is $2.65 and its 200 day moving average is $3.06. Galectin Therapeutics Inc. has a one year low of $2.03 and a one year high of $7.13. The firm has a market cap of $305.59 million, a price-to-earnings ratio of -11.32 and a beta of 0.47.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on GALT. Weiss Ratings upgraded shares of Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 18th. Wall Street Zen raised shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of Galectin Therapeutics in a report on Tuesday, June 23rd. One investment 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, the company presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Institutional Investors Weigh In On Galectin Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Galectin Therapeutics by 25.4% during the third quarter. JPMorgan Chase & Co. now owns 15,470 shares of the company’s stock valued at $66,000 after acquiring an additional 3,133 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Galectin Therapeutics by 1,197.3% in the 4th quarter. Royal Bank of Canada now owns 6,175 shares of the company’s stock worth $25,000 after purchasing an additional 5,699 shares in the last quarter. Invesco Ltd. bought a new position in shares of Galectin Therapeutics in the 4th quarter worth $43,000. State Street Corp grew its position in Galectin Therapeutics by 5.2% in the 4th quarter. State Street Corp now owns 242,232 shares of the company’s stock valued at $1,008,000 after purchasing an additional 11,892 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in Galectin Therapeutics in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 11.68% of the company’s stock.

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.