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

by · The Cerbat Gem

StockNews.com cut shares of Galectin Therapeutics (NASDAQ:GALT – Free Report) from a hold rating to a sell rating in a research note issued to investors on Monday.

Separately, HC Wainwright reissued a “neutral” rating on shares of Galectin Therapeutics in a report on Friday, December 27th.

Read Our Latest Report on GALT

Galectin Therapeutics Stock Up 17.3 %

Shares of GALT opened at $1.29 on Monday. The business has a 50-day simple moving average of $2.26 and a two-hundred day simple moving average of $2.40. Galectin Therapeutics has a 52 week low of $0.73 and a 52 week high of $4.27. The stock has a market cap of $80.96 million, a price-to-earnings ratio of -1.77 and a beta of 0.69.

Insider Activity at Galectin Therapeutics

In other news, CEO Joel Lewis sold 56,000 shares of the business’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 $49,840.00. Following the transaction, the chief executive officer now owns 897,012 shares of the company’s stock, valued at approximately $798,340.68. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $35,600.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have bought 22,000 shares of company stock worth $30,540 and have sold 109,654 shares worth $97,456. 50.10% of the stock is owned by corporate insiders.

Institutional Trading of Galectin Therapeutics

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in shares of Galectin Therapeutics by 2.5% during the third quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock valued at $2,372,000 after purchasing an additional 20,817 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Galectin Therapeutics by 317.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock valued at $1,092,000 after buying an additional 367,610 shares in the last quarter. State Street Corp increased its stake in Galectin Therapeutics by 9.3% in the 3rd quarter. State Street Corp now owns 251,014 shares of the company’s stock worth $690,000 after acquiring an additional 21,399 shares during the last quarter. Soltis Investment Advisors LLC purchased a new stake in shares of Galectin Therapeutics during the 3rd quarter worth approximately $387,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Galectin Therapeutics during the 2nd quarter worth approximately $227,000. Hedge funds and other institutional investors own 11.68% of the company’s stock.

Galectin Therapeutics Company Profile

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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.

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