Insider Selling: Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Sells 56,000 Shares of Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Joel Lewis sold 56,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $0.89, for a total transaction of $49,840.00. Following the transaction, the chief executive officer now owns 897,012 shares of the company’s stock, valued at $798,340.68. This represents a 5.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Galectin Therapeutics Stock Up 32.2 %

GALT stock opened at $1.15 on Friday. The stock has a 50-day simple moving average of $2.34 and a two-hundred day simple moving average of $2.43. Galectin Therapeutics Inc. has a twelve month low of $0.73 and a twelve month high of $4.27. The firm has a market capitalization of $72.18 million, a PE ratio of -1.58 and a beta of 0.69.

Analysts Set New Price Targets

GALT has been the subject of several analyst reports. HC Wainwright reaffirmed a “neutral” rating on shares of Galectin Therapeutics in a report on Friday. StockNews.com upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

Hedge Funds Weigh In On Galectin Therapeutics

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in Galectin Therapeutics in the 2nd quarter valued at $146,000. Commonwealth Equity Services LLC boosted its stake in Galectin Therapeutics by 317.6% during the second quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock valued at $1,092,000 after buying an additional 367,610 shares during the period. Rhumbline Advisers bought a new stake in Galectin Therapeutics during the second quarter valued at $44,000. Marshall Wace LLP purchased a new position in Galectin Therapeutics during the second quarter worth about $43,000. Finally, Squarepoint Ops LLC increased its stake in Galectin Therapeutics by 75.4% in the 2nd quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock worth $190,000 after acquiring an additional 36,139 shares during the last quarter. Hedge funds and other institutional investors own 11.68% of the company’s stock.

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.