Galectin Therapeutics Inc. (NASDAQ:GALT) Short Interest Up 41.1% in December

Galectin Therapeutics Inc. (NASDAQ:GALT) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 8,270,000 shares, a growth of 41.1% from the November 30th total of 5,860,000 shares. Approximately 19.0% of the shares of the company are sold short. Based on an average daily trading volume, of 494,900 shares, the days-to-cover ratio is currently 16.7 days.

Analysts Set New Price Targets

Several equities analysts have recently commented on GALT shares. StockNews.com upgraded shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. HC Wainwright reissued a “neutral” rating on shares of Galectin Therapeutics in a report on Friday.

Galectin Therapeutics Trading Down 4.3 %

GALT traded down $0.05 on Monday, reaching $1.10. The stock had a trading volume of 888,134 shares, compared to its average volume of 267,134. The firm has a 50-day moving average of $2.34 and a 200-day moving average of $2.43. Galectin Therapeutics has a fifty-two week low of $0.73 and a fifty-two week high of $4.27. The company has a market capitalization of $69.04 million, a price-to-earnings ratio of -1.51 and a beta of 0.69.

Insider Transactions at Galectin Therapeutics

In other Galectin Therapeutics news, CEO Joel Lewis sold 56,000 shares of Galectin Therapeutics stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $0.89, for a total value of $49,840.00. Following the completion of the transaction, the chief executive officer now directly owns 897,012 shares of the company’s stock, valued at $798,340.68. The trade was a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jack W. Callicutt sold 40,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $0.89, for a total value of $35,600.00. Following the sale, the chief financial officer now directly owns 7,614 shares in the company, valued at approximately $6,776.46. This trade represents a 84.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 15,500 shares of company stock valued at $23,000 and sold 109,654 shares valued at $97,456. Insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in Galectin Therapeutics in the 2nd quarter valued at approximately $43,000. Rhumbline Advisers acquired a new stake in Galectin Therapeutics in the second quarter valued at $44,000. Gladstone Institutional Advisory LLC bought a new position in Galectin Therapeutics during the 3rd quarter worth $60,000. Barclays PLC lifted its holdings in Galectin Therapeutics by 309.0% during the 3rd quarter. Barclays PLC now owns 28,587 shares of the company’s stock worth $79,000 after buying an additional 21,598 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Galectin Therapeutics by 161.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,628 shares of the company’s stock valued at $84,000 after buying an additional 18,907 shares during the last quarter. Institutional investors own 11.68% of the company’s stock.

Galectin Therapeutics Company Profile

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.