Galectin Therapeutics (NASDAQ:GALT) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Galectin Therapeutics (NASDAQ:GALT) from a hold rating to a sell rating in a report released on Monday.

Separately, HC Wainwright reiterated a “neutral” rating on shares of Galectin Therapeutics in a research report on Friday.

Galectin Therapeutics Stock Performance

NASDAQ GALT opened at $1.10 on Monday. The business’s fifty day moving average is $2.34 and its 200 day moving average is $2.43. The company has a market capitalization of $69.04 million, a PE ratio of -1.51 and a beta of 0.69. Galectin Therapeutics has a fifty-two week low of $0.73 and a fifty-two week high of $4.27.

Insider Transactions at Galectin Therapeutics

In related news, CFO Jack W. Callicutt sold 40,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 7,614 shares in the company, valued at approximately $6,776.46. This represents a 84.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joel Lewis sold 56,000 shares of Galectin Therapeutics stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $0.89, for a total transaction of $49,840.00. Following the completion of the sale, the chief executive officer now owns 897,012 shares in the company, valued at approximately $798,340.68. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 15,500 shares of company stock valued at $23,000 and sold 109,654 shares valued at $97,456. Corporate insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Galectin Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in Galectin Therapeutics in the second quarter worth $43,000. JPMorgan Chase & Co. raised its holdings in Galectin Therapeutics by 161.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,628 shares of the company’s stock valued at $84,000 after buying an additional 18,907 shares during the period. Rhumbline Advisers bought a new stake in shares of Galectin Therapeutics in the 2nd quarter worth about $44,000. Geode Capital Management LLC lifted its stake in Galectin Therapeutics by 2.5% in the third quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock worth $2,372,000 after purchasing an additional 20,817 shares during the last quarter. Finally, State Street Corp boosted its holdings in Galectin Therapeutics by 9.3% during the 3rd quarter. State Street Corp now owns 251,014 shares of the company’s stock valued at $690,000 after acquiring an additional 21,399 shares during the period. Hedge funds and other institutional investors own 11.68% of the company’s stock.

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.