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

by · The Markets Daily

Galectin Therapeutics (NASDAQ:GALT – Get Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Monday.

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

Check Out Our Latest Analysis on Galectin Therapeutics

Galectin Therapeutics Price Performance

Shares of NASDAQ GALT traded down $0.05 during midday trading on Monday, hitting $1.10. The stock had a trading volume of 889,799 shares, compared to its average volume of 267,486. The firm has a market cap of $69.04 million, a P/E 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. The company’s 50-day simple moving average is $2.34 and its 200 day simple moving average is $2.43.

Insider Buying and Selling at Galectin Therapeutics

In other news, CFO Jack W. Callicutt sold 40,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was 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 directly owns 7,614 shares of the company’s stock, valued at $6,776.46. This represents a 84.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Joel Lewis sold 56,000 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 $49,840.00. Following the completion of the sale, the chief executive officer now owns 897,012 shares in the company, valued at $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 ninety days, insiders have acquired 15,500 shares of company stock valued at $23,000 and have sold 109,654 shares valued at $97,456. Insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Galectin Therapeutics

Several large investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its holdings in shares of Galectin Therapeutics by 317.6% in the second quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after acquiring an additional 367,610 shares in the last quarter. Soltis Investment Advisors LLC bought a new stake in Galectin Therapeutics during the 3rd quarter worth approximately $387,000. Sanctuary Advisors LLC bought a new stake in Galectin Therapeutics during the 2nd quarter worth approximately $227,000. Bank of New York Mellon Corp acquired a new stake in Galectin Therapeutics during the 2nd quarter worth approximately $146,000. Finally, Kovitz Investment Group Partners LLC bought a new position in Galectin Therapeutics in the third quarter valued at approximately $117,000. Institutional investors own 11.68% of the company’s stock.

Galectin Therapeutics Company Profile

(Get Free Report)

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.

Read More