Fund L.P. 10X Sells 30,681 Shares of Galectin Therapeutics (NASDAQ:GALT) Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) major shareholder Fund L.P. 10X sold 30,681 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $6.66, for a total value of $204,335.46. Following the completion of the sale, the insider owned 5,614,457 shares in the company, valued at approximately $37,392,283.62. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Fund L.P. 10X also recently made the following trade(s):

• On Wednesday, December 3rd, Fund L.P. 10X sold 120,000 shares of Galectin Therapeutics stock. The stock was sold at an average price of $5.73, for a total value of $687,600.00.
• On Tuesday, December 2nd, Fund L.P. 10X sold 30,000 shares of Galectin Therapeutics stock. The shares were sold at an average price of $5.47, for a total transaction of $164,100.00.
• On Wednesday, October 22nd, Fund L.P. 10X sold 50,000 shares of Galectin Therapeutics stock. The stock was sold at an average price of $4.94, for a total value of $247,000.00.

Galectin Therapeutics Stock Down 0.8%

GALT traded down $0.05 on Thursday, reaching $6.42. The company had a trading volume of 158,980 shares, compared to its average volume of 400,259. Galectin Therapeutics Inc. has a 1 year low of $0.73 and a 1 year high of $7.13. The stock has a market capitalization of $413.90 million, a PE ratio of -10.88 and a beta of 0.95. The stock has a 50-day moving average price of $5.54 and a 200-day moving average price of $4.14.

Galectin Therapeutics (NASDAQ:GALT) last posted its earnings results on Friday, November 14th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). As a group, analysts expect that Galectin Therapeutics Inc. will post -0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Galectin Therapeutics

Several institutional investors have recently bought and sold shares of the company. Nuveen LLC purchased a new position in Galectin Therapeutics during the 1st quarter worth $34,000. Atwood & Palmer Inc. acquired a new position in shares of Galectin Therapeutics during the third quarter worth about $42,000. Archer Investment Corp purchased a new position in Galectin Therapeutics during the third quarter worth about $47,000. Bank of America Corp DE lifted its position in Galectin Therapeutics by 101.4% in the fourth quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock valued at $49,000 after purchasing an additional 19,316 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in Galectin Therapeutics in the 3rd quarter valued at approximately $63,000. 11.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GALT shares. HC Wainwright increased their price objective on Galectin Therapeutics from $6.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Galectin Therapeutics in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.00.

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.