Galectin Therapeutics (NASDAQ:GALT) Director Harold Shlevin Sells 7,732 Shares of Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) Director Harold Shlevin sold 7,732 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $5.00, for a total value of $38,660.00. Following the sale, the director owned 6,500 shares in the company, valued at $32,500. The trade was a 54.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Galectin Therapeutics Stock Down 6.6%

Shares of GALT traded down $0.33 during trading hours on Tuesday, reaching $4.64. 1,122,352 shares of the company traded hands, compared to its average volume of 992,716. The business has a fifty day moving average price of $2.65 and a 200-day moving average price of $3.06. The stock has a market capitalization of $305.59 million, a P/E ratio of -11.32 and a beta of 0.47. Galectin Therapeutics Inc. has a 12-month low of $2.03 and a 12-month high of $7.13.

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

Institutional Trading of Galectin Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Galectin Therapeutics by 25.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,470 shares of the company’s stock valued at $66,000 after purchasing an additional 3,133 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Galectin Therapeutics by 1,197.3% during the fourth quarter. Royal Bank of Canada now owns 6,175 shares of the company’s stock worth $25,000 after purchasing an additional 5,699 shares in the last quarter. Invesco Ltd. acquired a new position in shares of Galectin Therapeutics during the fourth quarter worth $43,000. State Street Corp increased its holdings in Galectin Therapeutics by 5.2% in the fourth quarter. State Street Corp now owns 242,232 shares of the company’s stock valued at $1,008,000 after buying an additional 11,892 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in Galectin Therapeutics in the fourth quarter valued at $59,000. 11.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

About Galectin Therapeutics

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.