Harold Shlevin Sells 22,268 Shares of Galectin Therapeutics (NASDAQ:GALT) Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) Director Harold Shlevin sold 22,268 shares of Galectin Therapeutics stock in a transaction on Monday, June 29th. The stock was sold at an average price of $5.04, for a total transaction of $112,230.72. Following the transaction, the director owned 6,500 shares in the company, valued at $32,760. This represents a 77.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Galectin Therapeutics Price Performance

Shares of GALT stock opened at $4.33 on Thursday. The company has a market cap of $285.17 million, a price-to-earnings ratio of -10.56 and a beta of 0.34. Galectin Therapeutics Inc. has a 1 year low of $2.03 and a 1 year high of $7.13. The firm has a fifty day moving average price of $2.69 and a 200-day moving average price of $3.05.

Galectin Therapeutics (NASDAQ:GALT) last announced its earnings results 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 expect that Galectin Therapeutics Inc. will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GALT. Royal Bank of Canada raised its holdings in Galectin Therapeutics by 1,197.3% during the fourth quarter. Royal Bank of Canada now owns 6,175 shares of the company’s stock valued at $25,000 after acquiring an additional 5,699 shares during the period. Invesco Ltd. purchased a new position in shares of Galectin Therapeutics in the fourth quarter valued at about $43,000. Cetera Investment Advisers bought a new position in shares of Galectin Therapeutics in the fourth quarter worth about $59,000. Hudson Bay Capital Management LP bought a new position in shares of Galectin Therapeutics in the third quarter worth about $63,000. Finally, JPMorgan Chase & Co. grew its position in shares of Galectin Therapeutics by 25.4% during the third quarter. JPMorgan Chase & Co. now owns 15,470 shares of the company’s stock worth $66,000 after purchasing an additional 3,133 shares in the last quarter. Institutional investors own 11.68% of the company’s stock.

Analysts Set New Price Targets

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