Insider Selling: Galectin Therapeutics (NASDAQ:GALT) Director Sells $112,230.72 in Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) Director Harold Shlevin sold 22,268 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $5.04, for a total transaction of $112,230.72. Following the completion of the transaction, the director owned 6,500 shares of the company’s stock, valued at $32,760. This trade represents a 77.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Galectin Therapeutics Stock Up 4.2%

Shares of GALT stock opened at $4.51 on Friday. Galectin Therapeutics Inc. has a 12-month low of $2.03 and a 12-month high of $7.13. The firm has a fifty day moving average of $2.73 and a 200-day moving average of $3.03. The company has a market capitalization of $297.03 million, a price-to-earnings ratio of -11.00 and a beta of 0.35.

Galectin Therapeutics (NASDAQ:GALT) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). On average, equities analysts expect that Galectin Therapeutics Inc. will post -0.37 EPS for the current year.

Hedge Funds Weigh In On Galectin Therapeutics

A number of hedge funds have recently bought and sold shares of GALT. Royal Bank of Canada raised its stake in Galectin Therapeutics by 1,197.3% in the 4th quarter. Royal Bank of Canada now owns 6,175 shares of the company’s stock worth $25,000 after purchasing an additional 5,699 shares in the last quarter. Invesco Ltd. acquired a new position in Galectin Therapeutics in the 4th quarter valued at $43,000. Bank of America Corp DE lifted its position in shares of Galectin Therapeutics by 101.4% during the 4th quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock valued at $49,000 after acquiring an additional 19,316 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Galectin Therapeutics during the 4th quarter worth $59,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Galectin Therapeutics during the 3rd quarter worth $63,000. 11.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GALT shares. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price on shares of Galectin Therapeutics in a research report on Tuesday, June 23rd. Weiss Ratings raised Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 18th. Finally, Wall Street Zen upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Galectin Therapeutics currently has an average rating of “Hold” and an average price target 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.