HC Wainwright Reiterates “Neutral” Rating for Galectin Therapeutics (NASDAQ:GALT)

Galectin Therapeutics (NASDAQ:GALT)‘s stock had its “neutral” rating reissued by stock analysts at HC Wainwright in a research report issued on Friday,Benzinga reports.

Separately, StockNews.com raised Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

Galectin Therapeutics Trading Up 32.2 %

Shares of GALT opened at $1.15 on Friday. The firm has a market cap of $72.18 million, a P/E ratio of -1.58 and a beta of 0.69. The stock’s 50 day moving average is $2.34 and its two-hundred day moving average is $2.43. Galectin Therapeutics has a 12 month low of $0.73 and a 12 month high of $4.27.

Insider Transactions at Galectin Therapeutics

In related news, CEO Joel Lewis sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $0.89, for a total transaction of $49,840.00. Following the sale, the chief executive officer now directly owns 897,012 shares of the company’s stock, valued at $798,340.68. This represents a 5.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jack W. Callicutt sold 40,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 7,614 shares in the company, valued at $6,776.46. This represents a 84.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 15,500 shares of company stock worth $23,000 and have sold 109,654 shares worth $97,456. Insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Galectin Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in GALT. Bank of New York Mellon Corp acquired a new stake in shares of Galectin Therapeutics in the 2nd quarter worth $146,000. Commonwealth Equity Services LLC increased its holdings 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 acquired a new position in shares of Galectin Therapeutics during the 2nd quarter worth approximately $44,000. Marshall Wace LLP acquired a new position in shares of Galectin Therapeutics in the second quarter worth $43,000. Finally, Squarepoint Ops LLC lifted its holdings in Galectin Therapeutics by 75.4% in the 2nd quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock valued at $190,000 after purchasing an additional 36,139 shares in the last quarter. Institutional investors and hedge funds own 11.68% of the company’s stock.

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.