Insider Selling: Galectin Therapeutics (NASDAQ:GALT) Insider Sells $23,728.98 in Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) insider Khurram Jamil sold 7,557 shares of Galectin Therapeutics stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $3.14, for a total value of $23,728.98. Following the completion of the sale, the insider directly owned 7,557 shares in the company, valued at $23,728.98. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Khurram Jamil also recently made the following trade(s):

• On Tuesday, May 26th, Khurram Jamil sold 568 shares of Galectin Therapeutics stock. The stock was sold at an average price of $3.10, for a total value of $1,760.80.

Galectin Therapeutics Trading Up 17.5%

Shares of Galectin Therapeutics stock opened at $4.97 on Friday. The firm has a market cap of $327.32 million, a PE ratio of -12.12 and a beta of 0.47. The stock has a 50 day moving average of $2.55 and a 200 day moving average of $3.09. Galectin Therapeutics Inc. has a 12 month low of $2.03 and a 12 month high of $7.13.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). As a group, equities research analysts forecast that Galectin Therapeutics Inc. will post -0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GALT has been the topic of several research reports. Weiss Ratings upgraded shares of Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 18th. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of Galectin Therapeutics in a research report on Tuesday, June 23rd. Finally, Wall Street Zen raised shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Galectin Therapeutics has a consensus rating of “Hold” and a consensus target price of $11.00.

Institutional Investors Weigh In On Galectin Therapeutics

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in shares of Galectin Therapeutics by 114.9% in the 1st quarter. Bank of America Corp DE now owns 53,862 shares of the company’s stock worth $150,000 after purchasing an additional 28,799 shares during the period. Vivaldi Capital Management LP raised its holdings in Galectin Therapeutics by 26.7% during the 1st quarter. Vivaldi Capital Management LP now owns 258,584 shares of the company’s stock valued at $721,000 after buying an additional 54,514 shares during the period. Renaissance Technologies LLC bought a new stake in Galectin Therapeutics in the first quarter worth $413,000. Sovran Advisors LLC lifted its position in Galectin Therapeutics by 14.1% in the first quarter. Sovran Advisors LLC now owns 257,830 shares of the company’s stock worth $719,000 after buying an additional 31,956 shares during the last quarter. Finally, Tulsa Wealth Advisors INC bought a new stake in Galectin Therapeutics in the fourth quarter worth $97,000. 11.68% of the stock is owned by institutional investors.

Galectin Therapeutics Company Profile

Galectin Therapeutics, Inc is a clinical-stage biotechnology company focused on the development of novel therapies that target galectin proteins, which are implicated in fibrotic, inflammatory and malignant diseases. The company’s lead product candidate, belapectin (formerly GR-MD-02), is a galectin-3 inhibitor being evaluated in Phase 2 clinical trials for nonalcoholic steatohepatitis (NASH) with cirrhosis. In addition to its core pipeline in fibrotic liver disease, Galectin Therapeutics continues to explore the potential of its galectin inhibitors in oncology and other indications driven by abnormal tissue remodeling.

Founded in 2000, the company is headquartered in Norcross, Georgia, where it oversees discovery research, preclinical studies and clinical trial coordination.