Galectin Therapeutics, Inc. (NASDAQ:GALT) Major Shareholder Sells $29,700.00 in Stock

Galectin Therapeutics, Inc. (NASDAQ:GALT) major shareholder Fund L.P. 10X sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $2.97, for a total value of $29,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of GALT opened at $2.79 on Friday. The business’s 50-day moving average is $2.77 and its two-hundred day moving average is $2.64. The company has a market capitalization of $159.15 million, a P/E ratio of -8.21 and a beta of 2.33. Galectin Therapeutics, Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $4.50.

Galectin Therapeutics (NASDAQ:GALT) last posted its earnings results on Monday, August 10th. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.04). As a group, analysts predict that Galectin Therapeutics, Inc. will post -0.46 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its position in shares of Galectin Therapeutics by 145.8% during the 2nd quarter. Bank of America Corp DE now owns 10,895 shares of the company’s stock valued at $33,000 after acquiring an additional 6,462 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Galectin Therapeutics during the 2nd quarter valued at about $36,000. Brookstone Capital Management acquired a new stake in shares of Galectin Therapeutics during the 3rd quarter valued at about $34,000. Vivaldi Capital Management LLC grew its position in shares of Galectin Therapeutics by 44.7% during the 2nd quarter. Vivaldi Capital Management LLC now owns 15,439 shares of the company’s stock valued at $40,000 after acquiring an additional 4,771 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in shares of Galectin Therapeutics during the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 17.78% of the company’s stock.

A number of equities analysts recently issued reports on GALT shares. Zacks Investment Research upgraded Galectin Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 13th. HC Wainwright increased their price target on Galectin Therapeutics from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th.

About Galectin Therapeutics

Galectin Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, skin, and cancer diseases. The company's lead product candidate includes GR-MD-02 galectin-3 inhibitor, a galactoarabino-rhamnogalacturonan polysaccharide polymer that is in Phase III clinical trial for the treatment of liver fibrosis associated with fatty liver disease and non-alcoholic steatohepatitis cirrhosis, as well as for the treatment of cancer.

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