Geode Capital Management LLC Grows Stake in Galectin Therapeutics Inc. (NASDAQ:GALT)

Geode Capital Management LLC grew its position in Galectin Therapeutics Inc. (NASDAQ:GALT) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 862,542 shares of the company’s stock after acquiring an additional 20,817 shares during the quarter. Geode Capital Management LLC’s holdings in Galectin Therapeutics were worth $2,372,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GALT. Marshall Wace LLP purchased a new stake in Galectin Therapeutics in the 2nd quarter worth about $43,000. Rhumbline Advisers purchased a new stake in shares of Galectin Therapeutics in the second quarter worth approximately $44,000. Gladstone Institutional Advisory LLC bought a new stake in shares of Galectin Therapeutics during the 3rd quarter worth approximately $60,000. Barclays PLC boosted its holdings in Galectin Therapeutics by 309.0% during the 3rd quarter. Barclays PLC now owns 28,587 shares of the company’s stock valued at $79,000 after acquiring an additional 21,598 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new position in Galectin Therapeutics in the 3rd quarter valued at $117,000. Institutional investors own 11.68% of the company’s stock.

Insider Buying and Selling at Galectin Therapeutics

In other news, CEO Joel Lewis sold 56,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $0.89, for a total value 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. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jack W. Callicutt sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was 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 directly owns 7,614 shares of the company’s stock, valued at $6,776.46. The trade was a 84.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 22,000 shares of company stock valued at $30,540 and sold 109,654 shares valued at $97,456. 50.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GALT has been the subject of several research analyst reports. HC Wainwright reiterated a “neutral” rating on shares of Galectin Therapeutics in a research report on Friday, December 27th. StockNews.com downgraded shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, December 30th.

Galectin Therapeutics Stock Performance

Shares of NASDAQ GALT opened at $1.20 on Wednesday. Galectin Therapeutics Inc. has a 52-week low of $0.73 and a 52-week high of $4.27. The firm has a market capitalization of $75.31 million, a price-to-earnings ratio of -1.64 and a beta of 0.83. The stock has a 50 day moving average price of $2.15 and a 200 day moving average price of $2.37.

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.