Jack W. Callicutt Sells 40,000 Shares of Galectin Therapeutics Inc. (NASDAQ:GALT) Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) CFO Jack W. Callicutt sold 40,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $0.89, for a total value of $35,600.00. Following the completion of the transaction, the chief financial officer now directly owns 7,614 shares in the company, valued at approximately $6,776.46. This trade represents a 84.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Galectin Therapeutics Stock Performance

Shares of GALT stock opened at $1.15 on Friday. Galectin Therapeutics Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $4.27. The company has a 50 day moving average price of $2.34 and a 200 day moving average price of $2.43. The stock has a market capitalization of $72.18 million, a P/E ratio of -1.58 and a beta of 0.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its position in shares of Galectin Therapeutics by 317.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after purchasing an additional 367,610 shares during the last quarter. Soltis Investment Advisors LLC acquired a new stake in shares of Galectin Therapeutics during the 3rd quarter worth about $387,000. Sanctuary Advisors LLC purchased a new stake in Galectin Therapeutics during the second quarter worth approximately $227,000. Bank of New York Mellon Corp acquired a new position in Galectin Therapeutics in the second quarter valued at approximately $146,000. Finally, Kovitz Investment Group Partners LLC purchased a new position in Galectin Therapeutics in the third quarter valued at approximately $117,000. 11.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GALT shares. HC Wainwright restated a “neutral” rating on shares of Galectin Therapeutics in a research report on Friday. StockNews.com upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

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.