Insider Selling: Galectin Therapeutics (NASDAQ:GALT) CEO Sells $87,529.40 in Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Joel Lewis sold 14,420 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $6.07, for a total transaction of $87,529.40. Following the completion of the sale, the chief executive officer owned 832,592 shares in the company, valued at $5,053,833.44. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, November 5th, Joel Lewis sold 200 shares of Galectin Therapeutics stock. The shares were sold at an average price of $6.00, for a total transaction of $1,200.00.
• 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 transaction of $7,813.00.
• On Friday, September 12th, Joel Lewis sold 14,000 shares of Galectin Therapeutics stock. The stock was sold at an average price of $6.36, for a total transaction of $89,040.00.

Galectin Therapeutics Stock Down 6.8%

Shares of GALT stock opened at $5.20 on Friday. Galectin Therapeutics Inc. has a 12-month low of $0.73 and a 12-month high of $6.55. The firm has a fifty day moving average of $4.90 and a 200-day moving average of $3.25. The firm has a market capitalization of $335.29 million, a price-to-earnings ratio of -8.13 and a beta of 0.86.

Galectin Therapeutics (NASDAQ:GALT) last posted its earnings results on Thursday, August 14th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. Research analysts expect that Galectin Therapeutics Inc. will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Galectin Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of GALT. Nuveen LLC acquired a new position in Galectin Therapeutics during the 1st quarter worth approximately $34,000. Atwood & Palmer Inc. acquired a new position in Galectin Therapeutics during the third quarter worth $42,000. Archer Investment Corp acquired a new position in Galectin Therapeutics during the third quarter worth $47,000. Bank of America Corp DE grew its position in Galectin Therapeutics by 101.4% in the fourth quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock valued at $49,000 after purchasing an additional 19,316 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Galectin Therapeutics in the 2nd quarter valued at $64,000. Institutional investors and hedge funds own 11.68% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GALT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Galectin Therapeutics in a report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Galectin Therapeutics in a research note on Thursday, August 14th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.00.

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.