Khurram Jamil Sells 47,467 Shares of Galectin Therapeutics (NASDAQ:GALT) Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) insider Khurram Jamil sold 47,467 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $5.04, for a total value of $239,233.68. Following the transaction, the insider owned 2,037 shares in the company, valued at $10,266.48. This trade represents a 95.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, June 26th, Khurram Jamil sold 4,570 shares of Galectin Therapeutics stock. The shares were sold at an average price of $5.00, for a total value of $22,850.00.
• On Tuesday, June 23rd, Khurram Jamil sold 7,557 shares of Galectin Therapeutics stock. The shares were sold at an average price of $3.14, for a total value 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 value of $1,760.80.

Galectin Therapeutics Price Performance

Shares of Galectin Therapeutics stock opened at $4.33 on Thursday. The business has a 50-day moving average of $2.69 and a 200 day moving average of $3.05. Galectin Therapeutics Inc. has a 12 month low of $2.03 and a 12 month high of $7.13. The stock has a market capitalization of $285.17 million, a price-to-earnings ratio of -10.56 and a beta of 0.34.

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

Analyst Ratings Changes

Several brokerages have commented on GALT. Wall Street Zen raised shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Galectin Therapeutics in a research report on Tuesday, June 23rd. Finally, Weiss Ratings upgraded Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Galectin Therapeutics currently has an average rating of “Hold” and a consensus price target of $11.00.

Institutional Trading of Galectin Therapeutics

A number of large investors have recently made changes to their positions in the company. XTX Topco Ltd increased its position in shares of Galectin Therapeutics by 226.6% in the 2nd quarter. XTX Topco Ltd now owns 42,805 shares of the company’s stock valued at $90,000 after purchasing an additional 29,699 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Galectin Therapeutics during the 4th quarter worth $90,000. Two Sigma Investments LP acquired a new position in shares of Galectin Therapeutics during the third quarter worth $70,000. Squarepoint Ops LLC acquired a new position in shares of Galectin Therapeutics during the fourth quarter worth $68,000. Finally, Marshall Wace LLP purchased a new position in Galectin Therapeutics in the second quarter valued at $64,000. 11.68% of the stock is currently owned by hedge funds and other institutional investors.

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.