Investors Buy High Volume of Galectin Therapeutics Put Options (NASDAQ:GALT)

Galectin Therapeutics Inc. (NASDAQ:GALT) saw some unusual options trading on Wednesday. Stock traders acquired 15,740 put options on the stock. This represents an increase of 230% compared to the typical daily volume of 4,772 put options.

Galectin Therapeutics Stock Performance

NASDAQ:GALT opened at $1.28 on Thursday. The stock’s fifty day moving average price is $2.01 and its two-hundred day moving average price is $2.33. Galectin Therapeutics has a 52-week low of $0.73 and a 52-week high of $4.27. The company has a market cap of $80.34 million, a price-to-earnings ratio of -1.75 and a beta of 0.83.

Insider Activity

In other news, CEO Joel Lewis sold 56,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 897,012 shares in the company, valued at approximately $798,340.68. This represents a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jack W. Callicutt sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $0.89, for a total value of $35,600.00. Following the completion of the sale, the chief financial officer now owns 7,614 shares in the company, valued at approximately $6,776.46. This represents a 84.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 17,000 shares of company stock worth $17,040 and have sold 109,654 shares worth $97,456. Corporate insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Galectin Therapeutics by 46.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,369 shares of the company’s stock worth $66,000 after buying an additional 16,271 shares in the last quarter. Marshall Wace LLP acquired a new position in Galectin Therapeutics during the 2nd quarter worth $43,000. JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 18,907 shares during the period. Rhumbline Advisers acquired a new position in shares of Galectin Therapeutics in the 2nd quarter valued at $44,000. Finally, Geode Capital Management LLC lifted its stake in shares of Galectin Therapeutics by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock valued at $2,372,000 after purchasing an additional 20,817 shares during the period. Institutional investors and hedge funds own 11.68% of the company’s stock.

Analyst Upgrades and Downgrades

GALT has been the topic of several recent analyst reports. HC Wainwright reissued a “neutral” rating on shares of Galectin Therapeutics in a report on Friday, December 27th. StockNews.com downgraded Galectin Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, December 30th.

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.