Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Sells $49,840.00 in Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Joel Lewis sold 56,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $0.89, for a total transaction of $49,840.00. Following the completion of the transaction, the chief executive officer now owns 897,012 shares of the company’s stock, valued at approximately $798,340.68. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Galectin Therapeutics Trading Up 3.5 %

GALT stock opened at $0.87 on Friday. The business’s 50-day moving average is $2.37 and its 200 day moving average is $2.44. Galectin Therapeutics Inc. has a 12-month low of $0.73 and a 12-month high of $4.27. The stock has a market cap of $54.61 million, a price-to-earnings ratio of -1.19 and a beta of 0.69.

Wall Street Analyst Weigh In

Several analysts have commented on GALT shares. StockNews.com raised Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a report on Friday, November 15th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in shares of Galectin Therapeutics during the second quarter worth $146,000. Commonwealth Equity Services LLC grew its stake in Galectin Therapeutics by 317.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock valued at $1,092,000 after acquiring an additional 367,610 shares in the last quarter. Rhumbline Advisers purchased a new stake in Galectin Therapeutics during the 2nd quarter valued at about $44,000. Marshall Wace LLP acquired a new stake in Galectin Therapeutics in the 2nd quarter valued at about $43,000. Finally, Squarepoint Ops LLC lifted its stake in Galectin Therapeutics by 75.4% in the 2nd quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock worth $190,000 after purchasing an additional 36,139 shares in the last quarter. 11.68% of the stock is owned by institutional investors and hedge funds.

About Galectin Therapeutics

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.