Galectin Therapeutics (NASDAQ:GALT) Major Shareholder Sells $687,600.00 in Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) major shareholder Fund L.P. 10X sold 120,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $5.73, for a total value of $687,600.00. Following the transaction, the insider directly owned 5,682,207 shares of the company’s stock, valued at $32,559,046.11. The trade was a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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.

Fund L.P. 10X also recently made the following trade(s):

• On Tuesday, December 2nd, Fund L.P. 10X sold 30,000 shares of Galectin Therapeutics stock. The stock was sold at an average price of $5.47, for a total value of $164,100.00.
• On Wednesday, October 22nd, Fund L.P. 10X sold 50,000 shares of Galectin Therapeutics stock. The shares were sold at an average price of $4.94, for a total value of $247,000.00.

Galectin Therapeutics Price Performance

Shares of Galectin Therapeutics stock traded up $0.60 on Thursday, reaching $6.30. 718,834 shares of the company were exchanged, compared to its average volume of 388,309. The stock’s 50 day moving average price is $5.22 and its 200-day moving average price is $3.80. Galectin Therapeutics Inc. has a 1-year low of $0.73 and a 1-year high of $6.55. The company has a market cap of $406.16 million, a P/E ratio of -10.68 and a beta of 0.95.

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

Analyst Ratings Changes

A number of equities analysts recently commented on GALT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Galectin Therapeutics in a research note on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of Galectin Therapeutics in a research report on Thursday, August 14th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Galectin Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Institutional Investors Weigh In On Galectin Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of GALT. Vanguard Group Inc. lifted its position in Galectin Therapeutics by 2.9% in the third quarter. Vanguard Group Inc. now owns 2,247,967 shares of the company’s stock valued at $9,520,000 after acquiring an additional 63,419 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Galectin Therapeutics by 3.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,265,384 shares of the company’s stock valued at $2,670,000 after purchasing an additional 41,968 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Galectin Therapeutics in the 2nd quarter valued at about $1,580,000. Wealthspire Advisors LLC boosted its position in shares of Galectin Therapeutics by 20.4% in the 2nd quarter. Wealthspire Advisors LLC now owns 479,518 shares of the company’s stock valued at $1,012,000 after purchasing an additional 81,144 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of Galectin Therapeutics by 8.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 423,235 shares of the company’s stock valued at $516,000 after purchasing an additional 34,300 shares during the period. 11.68% of the stock is currently owned by institutional investors and hedge funds.

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.