Insider Selling: Galectin Therapeutics (NASDAQ:GALT) CEO Sells 7,829 Shares of Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Joel Lewis sold 7,829 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $7.06, for a total transaction of $55,272.74. Following the transaction, the chief executive officer owned 832,592 shares of the company’s stock, valued at $5,878,099.52. The trade was a 0.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Joel Lewis also recently made the following trade(s):

• On Wednesday, November 5th, Joel Lewis sold 200 shares of Galectin Therapeutics stock. The stock was sold at an average price of $6.00, for a total transaction of $1,200.00.
• On Tuesday, November 4th, Joel Lewis sold 14,420 shares of Galectin Therapeutics stock. The shares were sold at an average price of $6.07, for a total value of $87,529.40.
• On Monday, November 3rd, Joel Lewis sold 1,300 shares of Galectin Therapeutics stock. The shares were sold at an average price of $6.01, for a total value of $7,813.00.

Galectin Therapeutics Stock Performance

GALT traded down $1.78 on Friday, hitting $4.38. 4,104,617 shares of the company were exchanged, compared to its average volume of 417,051. Galectin Therapeutics Inc. has a 12 month low of $0.73 and a 12 month high of $7.13. The company has a market cap of $282.38 million, a PE ratio of -7.42 and a beta of 0.95. The stock’s fifty day moving average is $5.57 and its 200-day moving average is $4.15.

Galectin Therapeutics (NASDAQ:GALT) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). As a group, equities research analysts expect that Galectin Therapeutics Inc. will post -0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on GALT shares. HC Wainwright increased their price target on shares of Galectin Therapeutics from $6.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Galectin Therapeutics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.00.

Hedge Funds Weigh In On Galectin Therapeutics

Several large investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP bought a new stake in shares of Galectin Therapeutics in the third quarter valued at approximately $63,000. Vivaldi Capital Management LP raised its holdings in Galectin Therapeutics by 48.3% in the 3rd quarter. Vivaldi Capital Management LP now owns 255,752 shares of the company’s stock valued at $1,083,000 after acquiring an additional 83,309 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Galectin Therapeutics by 290.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 60,867 shares of the company’s stock valued at $258,000 after acquiring an additional 45,297 shares during the period. Lido Advisors LLC acquired a new stake in shares of Galectin Therapeutics during the 3rd quarter worth $154,000. Finally, Bank of America Corp DE increased its position in shares of Galectin Therapeutics by 129.4% in the third quarter. Bank of America Corp DE now owns 25,327 shares of the company’s stock worth $107,000 after purchasing an additional 14,285 shares during the period. 11.68% of the stock is owned by institutional investors.

More Galectin Therapeutics News

Here are the key news stories impacting Galectin Therapeutics this week:

• Positive Sentiment: FDA written response aligns with the company on the proposed patient population for a registration trial of belapectin and the company will pursue a follow?up Type C meeting to finalize trial design; management says new biomarker data will be presented. This reduces some regulatory uncertainty for the lead program. Galectin Therapeutics Provides Regulatory Update
• Positive Sentiment: Galectin secured a $10M unsecured, convertible line of credit from its chairman and extended maturities on related notes, which management says funds operations into at least March 2027 — a near?term liquidity buffer while belapectin development continues. Regulatory update & financing
• Neutral Sentiment: Technically, the stock recently crossed above its 200?day moving average — a bullish technical sign for some traders, but not a fundamental change. Shares Cross Above 200-Day Moving Average
• Negative Sentiment: Significant insider selling: multiple insiders (CEO Joel Lewis, Director Harold H. Shlevin, CMO Khurram Jamil) sold large blocks of stock on Dec. 16–17 at prices in the $6.66–$7.06 range — and a major shareholder (Fund L.P. 10X) also sold ~30,681 shares. The concentrated selling likely pressured the share price despite the regulatory/financing news. Insider Selling: Galectin Therapeutics
• Negative Sentiment: While HC Wainwright maintained a Buy and raised its price target to $11 (from $6), analyst optimism can be slower to offset immediate selling pressure from insiders and short?term traders. HC Wainwright maintains Buy, raises target

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.