Insider Selling: Galectin Therapeutics (NASDAQ:GALT) Insider Sells 4,570 Shares of Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) insider Khurram Jamil sold 4,570 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $5.00, for a total transaction of $22,850.00. Following the completion of the sale, the insider owned 2,037 shares in the company, valued at $10,185. This represents a 69.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Khurram Jamil also recently made the following trade(s):

• On Monday, June 29th, Khurram Jamil sold 47,467 shares of Galectin Therapeutics stock. The shares were sold at an average price of $5.04, for a total transaction of $239,233.68.
• On Tuesday, June 23rd, Khurram Jamil sold 7,557 shares of Galectin Therapeutics stock. The stock was sold at an average price of $3.14, for a total transaction of $23,728.98.
• On Tuesday, May 26th, Khurram Jamil sold 568 shares of Galectin Therapeutics stock. The stock was sold at an average price of $3.10, for a total transaction of $1,760.80.

Galectin Therapeutics Price Performance

Shares of NASDAQ GALT traded down $0.33 on Tuesday, hitting $4.64. The company’s stock had a trading volume of 1,122,352 shares, compared to its average volume of 992,716. The stock has a 50 day moving average of $2.65 and a 200-day moving average of $3.06. The company has a market capitalization of $305.59 million, a price-to-earnings ratio of -11.32 and a beta of 0.47. Galectin Therapeutics Inc. has a 12-month low of $2.03 and a 12-month high of $7.13.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Sell-side analysts expect that Galectin Therapeutics Inc. will post -0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GALT. Bank of America Corp DE increased its stake in Galectin Therapeutics by 114.9% in the first quarter. Bank of America Corp DE now owns 53,862 shares of the company’s stock valued at $150,000 after purchasing an additional 28,799 shares during the last quarter. Vivaldi Capital Management LP boosted its stake in Galectin Therapeutics by 26.7% in the 1st quarter. Vivaldi Capital Management LP now owns 258,584 shares of the company’s stock worth $721,000 after buying an additional 54,514 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Galectin Therapeutics in the 1st quarter worth about $413,000. Sovran Advisors LLC grew its holdings in Galectin Therapeutics by 14.1% in the 1st quarter. Sovran Advisors LLC now owns 257,830 shares of the company’s stock valued at $719,000 after buying an additional 31,956 shares during the period. Finally, Tulsa Wealth Advisors INC purchased a new stake in Galectin Therapeutics in the 4th quarter valued at about $97,000. Hedge funds and other institutional investors own 11.68% of the company’s stock.

Wall Street Analyst Weigh In

GALT has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of Galectin Therapeutics in a research report on Tuesday, June 23rd. Wall Street Zen upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings raised Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Galectin Therapeutics presently has an average rating of “Hold” and an average target price of $11.00.

Galectin Therapeutics Company Profile

Galectin Therapeutics, Inc is a clinical-stage biotechnology company focused on the development of novel therapies that target galectin proteins, which are implicated in fibrotic, inflammatory and malignant diseases. The company’s lead product candidate, belapectin (formerly GR-MD-02), is a galectin-3 inhibitor being evaluated in Phase 2 clinical trials for nonalcoholic steatohepatitis (NASH) with cirrhosis. In addition to its core pipeline in fibrotic liver disease, Galectin Therapeutics continues to explore the potential of its galectin inhibitors in oncology and other indications driven by abnormal tissue remodeling.

Founded in 2000, the company is headquartered in Norcross, Georgia, where it oversees discovery research, preclinical studies and clinical trial coordination.