Galectin Therapeutics Sees Unusually Large Options Volume (NASDAQ:GALT)

Galectin Therapeutics Inc. (NASDAQ:GALT) was the recipient of unusually large options trading activity on Wednesday. Investors bought 15,740 put options on the stock. This represents an increase of approximately 230% compared to the average volume of 4,772 put options.

Analysts Set New Price Targets

A number of brokerages have commented on GALT. StockNews.com cut shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, December 30th. HC Wainwright reiterated a “neutral” rating on shares of Galectin Therapeutics in a research note on Friday, December 27th.

Galectin Therapeutics Stock Up 10.4 %

GALT stock traded up $0.12 during midday trading on Wednesday, reaching $1.27. 274,225 shares of the company’s stock traded hands, compared to its average volume of 470,657. The company has a market cap of $79.71 million, a price-to-earnings ratio of -1.74 and a beta of 0.83. The company has a 50-day simple moving average of $2.01 and a two-hundred day simple moving average of $2.33. Galectin Therapeutics has a 1-year low of $0.73 and a 1-year high of $4.27.

Insider Buying and Selling

In other news, CEO Joel Lewis sold 56,000 shares of Galectin Therapeutics stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $0.89, for a total transaction of $49,840.00. Following the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jack W. Callicutt sold 40,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $0.89, for a total transaction 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 trade represents a 84.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 17,000 shares of company stock worth $17,040 and have sold 109,654 shares worth $97,456. Insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GALT. Marshall Wace LLP acquired a new stake in Galectin Therapeutics in the 2nd quarter valued at about $43,000. Rhumbline Advisers bought a new stake in shares of Galectin Therapeutics during the second quarter valued at approximately $44,000. Gladstone Institutional Advisory LLC acquired a new stake in shares of Galectin Therapeutics in the third quarter valued at approximately $60,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Galectin Therapeutics by 46.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 51,369 shares of the company’s stock valued at $66,000 after purchasing an additional 16,271 shares in the last quarter. Finally, Barclays PLC raised its position in Galectin Therapeutics by 309.0% in the 3rd quarter. Barclays PLC now owns 28,587 shares of the company’s stock worth $79,000 after purchasing an additional 21,598 shares during the last quarter. 11.68% of the stock is owned by institutional investors.

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.