Sanctuary Advisors LLC Trims Stock Position in Galectin Therapeutics Inc. (NASDAQ:GALT)

Sanctuary Advisors LLC trimmed its stake in Galectin Therapeutics Inc. (NASDAQ:GALT) by 21.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,113 shares of the company’s stock after selling 21,545 shares during the period. Sanctuary Advisors LLC’s holdings in Galectin Therapeutics were worth $220,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Marshall Wace LLP acquired a new position in Galectin Therapeutics in the second quarter valued at $43,000. Rhumbline Advisers acquired a new stake in shares of Galectin Therapeutics during the second quarter worth about $44,000. Gladstone Institutional Advisory LLC purchased a new stake in shares of Galectin Therapeutics in the 3rd quarter valued at about $60,000. Barclays PLC boosted its position in shares of Galectin Therapeutics by 309.0% in the 3rd quarter. Barclays PLC now owns 28,587 shares of the company’s stock valued at $79,000 after purchasing an additional 21,598 shares during the period. Finally, Kovitz Investment Group Partners LLC purchased a new position in Galectin Therapeutics during the 3rd quarter worth approximately $117,000. 11.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Galectin Therapeutics

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

Analyst Ratings Changes

GALT has been the subject of a number of research reports. StockNews.com upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. HC Wainwright reiterated a “neutral” rating on shares of Galectin Therapeutics in a research report on Friday.

Galectin Therapeutics Stock Performance

Shares of GALT opened at $1.15 on Monday. Galectin Therapeutics Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $4.27. The firm has a 50-day simple moving average of $2.34 and a 200-day simple moving average of $2.43. The company has a market capitalization of $72.18 million, a price-to-earnings ratio of -1.58 and a beta of 0.69.

Galectin Therapeutics Company Profile

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.