Insider Selling: Galectin Therapeutics Inc. (NASDAQ:GALT) CFO Sells 40,000 Shares of Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) CFO Jack W. Callicutt sold 40,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $0.89, for a total value of $35,600.00. Following the transaction, the chief financial officer now owns 7,614 shares of the company’s stock, valued at $6,776.46. This trade represents a 84.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Galectin Therapeutics Stock Performance

GALT opened at $0.87 on Friday. The company has a market capitalization of $54.61 million, a PE ratio of -1.19 and a beta of 0.69. The stock’s fifty day moving average is $2.37 and its 200-day moving average is $2.44. Galectin Therapeutics Inc. has a one year low of $0.73 and a one year high of $4.27.

Analysts Set New Price Targets

Several research firms recently weighed in on GALT. StockNews.com raised shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a research note on Friday, November 15th.

Institutional Investors Weigh In On Galectin Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC lifted its stake in Galectin Therapeutics by 75.4% during the second quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock valued at $190,000 after purchasing an additional 36,139 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Galectin Therapeutics by 317.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after acquiring an additional 367,610 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Galectin Therapeutics in the 2nd quarter worth $146,000. Marshall Wace LLP acquired a new stake in shares of Galectin Therapeutics during the second quarter worth $43,000. Finally, Sanctuary Advisors LLC purchased a new position in Galectin Therapeutics in the 2nd quarter worth about $227,000. 11.68% of the stock is owned by institutional investors and hedge funds.

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.