HC Wainwright Reaffirms Neutral Rating for Galectin Therapeutics (NASDAQ:GALT)

HC Wainwright reaffirmed their neutral rating on shares of Galectin Therapeutics (NASDAQ:GALT) in a research report sent to investors on Friday,Benzinga reports.

Separately, StockNews.com raised Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th.

Galectin Therapeutics Price Performance

Shares of GALT opened at $1.15 on Friday. The company has a market capitalization of $72.18 million, a P/E ratio of -1.58 and a beta of 0.69. Galectin Therapeutics has a one year low of $0.73 and a one year high of $4.27. The business’s 50 day simple moving average is $2.34 and its 200-day simple moving average is $2.43.

Insiders Place Their Bets

In other news, 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 directly owns 897,012 shares in the company, valued at approximately $798,340.68. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jack W. Callicutt sold 40,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $0.89, for a total transaction of $35,600.00. Following the completion of the sale, the chief financial officer now owns 7,614 shares in the company, valued at $6,776.46. This represents a 84.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 15,500 shares of company stock valued at $23,000 and sold 109,654 shares valued at $97,456. Insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in Galectin Therapeutics by 161.3% in the third quarter. JPMorgan Chase & Co. now owns 30,628 shares of the company’s stock worth $84,000 after purchasing an additional 18,907 shares during the period. Barclays PLC raised its stake 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 period. Soltis Investment Advisors LLC bought a new position in Galectin Therapeutics during the third quarter worth about $387,000. Geode Capital Management LLC lifted its holdings in Galectin Therapeutics by 2.5% during the third quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock worth $2,372,000 after acquiring an additional 20,817 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new position in Galectin Therapeutics in the third quarter valued at about $117,000. Institutional investors and hedge funds 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.