Joel Lewis Sells 56,000 Shares of Galectin Therapeutics Inc. (NASDAQ:GALT) Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Joel Lewis sold 56,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Galectin Therapeutics Price Performance

Shares of GALT stock traded up $0.08 during trading hours on Thursday, reaching $0.92. The stock had a trading volume of 372,379 shares, compared to its average volume of 239,177. The firm has a market capitalization of $57.87 million, a PE ratio of -1.26 and a beta of 0.69. The firm has a 50-day simple moving average of $2.41 and a 200-day simple moving average of $2.45. Galectin Therapeutics Inc. has a twelve month low of $0.73 and a twelve month high of $4.27.

Analysts Set New Price Targets

A number of analysts have weighed in on GALT shares. StockNews.com raised shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of Galectin Therapeutics in a research note on Friday, November 15th.

Institutional Trading of Galectin Therapeutics

A number of institutional investors have recently made changes to their positions in GALT. Marshall Wace LLP acquired a new stake in shares of Galectin Therapeutics in the second quarter valued at $43,000. Rhumbline Advisers bought a new position in shares of Galectin Therapeutics during the 2nd quarter valued at about $44,000. Gladstone Institutional Advisory LLC acquired a new position in shares of Galectin Therapeutics in the 3rd quarter worth approximately $60,000. Barclays PLC lifted its stake in Galectin Therapeutics by 309.0% during the third quarter. Barclays PLC now owns 28,587 shares of the company’s stock valued at $79,000 after purchasing an additional 21,598 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new stake in Galectin Therapeutics during the third quarter worth approximately $117,000. 11.68% of the stock is owned by institutional investors and hedge funds.

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.