Traynor Capital Management Inc. Grows Position in Galectin Therapeutics Inc. (NASDAQ:GALT)

Traynor Capital Management Inc. grew its stake in Galectin Therapeutics Inc. (NASDAQ:GALT) by 29.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,670 shares of the company’s stock after buying an additional 12,799 shares during the period. Traynor Capital Management Inc. owned approximately 0.09% of Galectin Therapeutics worth $72,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Galectin Therapeutics by 46.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,369 shares of the company’s stock worth $66,000 after acquiring an additional 16,271 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Galectin Therapeutics by 161.3% during the third quarter. JPMorgan Chase & Co. now owns 30,628 shares of the company’s stock valued at $84,000 after acquiring an additional 18,907 shares during the last quarter. Barclays PLC boosted its holdings in shares of Galectin Therapeutics by 309.0% during the third quarter. Barclays PLC now owns 28,587 shares of the company’s stock worth $79,000 after purchasing an additional 21,598 shares during the period. Soltis Investment Advisors LLC purchased a new stake in Galectin Therapeutics in the 3rd quarter worth approximately $387,000. Finally, Geode Capital Management LLC grew its position in shares of Galectin Therapeutics by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock worth $2,372,000 after buying an additional 20,817 shares during the last quarter. Hedge funds and other institutional investors own 11.68% of the company’s stock.

Galectin Therapeutics Trading Up 1.7 %

Shares of GALT stock opened at $1.23 on Friday. The company’s fifty day moving average price is $1.78 and its 200-day moving average price is $2.28. The stock has a market cap of $77.19 million, a PE ratio of -1.68 and a beta of 0.83. Galectin Therapeutics Inc. has a 12 month low of $0.73 and a 12 month high of $4.27.

Analysts Set New Price Targets

Several analysts recently weighed in on GALT shares. StockNews.com cut shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, December 30th. HC Wainwright restated a “neutral” rating on shares of Galectin Therapeutics in a report on Friday, December 27th.

Insider Buying and Selling

In other Galectin Therapeutics news, CEO Joel Lewis sold 56,000 shares of Galectin Therapeutics stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $0.89, for a total transaction of $49,840.00. Following the completion of the transaction, 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 ownership of the stock. The sale 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 business’s stock in a transaction on 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 in the company, valued at $6,776.46. This trade represents a 84.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,654 shares of company stock valued at $97,456 over the last quarter. Corporate insiders own 50.10% of the company’s stock.

Galectin Therapeutics 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.