Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Joel Lewis Sells 56,000 Shares of Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Joel Lewis sold 56,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $0.89, for a total transaction of $49,840.00. Following the completion of the transaction, the chief executive officer now owns 897,012 shares of the company’s stock, valued at $798,340.68. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Galectin Therapeutics Trading Up 3.5 %

NASDAQ:GALT opened at $0.87 on Friday. Galectin Therapeutics Inc. has a twelve month low of $0.73 and a twelve month high of $4.27. The company’s 50 day moving average is $2.37 and its two-hundred day moving average is $2.44. The company has a market cap of $54.61 million, a PE ratio of -1.19 and a beta of 0.69.

Wall Street Analysts Forecast Growth

GALT has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of Galectin Therapeutics in a research report on Friday, November 15th. StockNews.com raised Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

Hedge Funds Weigh In On Galectin Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in Galectin Therapeutics during the 2nd quarter valued at about $43,000. Rhumbline Advisers acquired a new position in Galectin Therapeutics in the 2nd quarter worth approximately $44,000. Gladstone Institutional Advisory LLC acquired a new position in Galectin Therapeutics in the 3rd quarter worth approximately $60,000. Barclays PLC raised its position in Galectin Therapeutics by 309.0% during the 3rd quarter. Barclays PLC now owns 28,587 shares of the company’s stock worth $79,000 after buying an additional 21,598 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Galectin Therapeutics by 161.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,628 shares of the company’s stock valued at $84,000 after acquiring an additional 18,907 shares during the last quarter. Hedge funds and other institutional investors own 11.68% of the company’s stock.

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.