Khurram Jamil Sells 4,570 Shares of Galectin Therapeutics (NASDAQ:GALT) Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) insider Khurram Jamil sold 4,570 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $5.00, for a total value of $22,850.00. Following the sale, the insider owned 2,037 shares of the company’s stock, valued at approximately $10,185. The trade was a 69.17% 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.

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

• On Monday, June 29th, Khurram Jamil sold 47,467 shares of Galectin Therapeutics stock. The shares were sold at an average price of $5.04, for a total value of $239,233.68.
• On Tuesday, June 23rd, Khurram Jamil sold 7,557 shares of Galectin Therapeutics stock. The stock was sold at an average price of $3.14, for a total value of $23,728.98.
• 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 transaction of $1,760.80.

Galectin Therapeutics Trading Down 6.7%

Shares of GALT stock opened at $4.33 on Thursday. The firm’s fifty day simple moving average is $2.69 and its 200 day simple moving average is $3.05. Galectin Therapeutics Inc. has a 1 year low of $2.03 and a 1 year high of $7.13. The firm has a market capitalization of $285.17 million, a P/E ratio of -10.56 and a beta of 0.34.

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

Analyst Ratings Changes

GALT has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of Galectin Therapeutics in a research note on Tuesday, June 23rd. Finally, Wall Street Zen upgraded 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GALT. Bank of America Corp DE increased its holdings in Galectin Therapeutics by 101.4% during the 4th 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 in the last quarter. XTX Topco Ltd increased its stake in shares of Galectin Therapeutics by 226.6% in the second quarter. XTX Topco Ltd now owns 42,805 shares of the company’s stock valued at $90,000 after buying an additional 29,699 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Galectin Therapeutics in the second quarter valued at about $64,000. Vivaldi Capital Management LP lifted its position in Galectin Therapeutics by 210.0% during the 2nd quarter. Vivaldi Capital Management LP now owns 172,443 shares of the company’s stock worth $364,000 after buying an additional 116,815 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Galectin Therapeutics during the 2nd quarter worth about $1,580,000. 11.68% of the stock is owned by institutional investors and hedge funds.

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.