Insider Selling: Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Sells $49,840.00 in Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) 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 value of $49,840.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Galectin Therapeutics Stock Up 32.2 %

Galectin Therapeutics stock opened at $1.15 on Friday. The business has a 50 day moving average price of $2.34 and a two-hundred day moving average price of $2.43. Galectin Therapeutics Inc. has a 12 month low of $0.73 and a 12 month high of $4.27. The stock has a market cap of $72.18 million, a price-to-earnings ratio of -1.58 and a beta of 0.69.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GALT. Marshall Wace LLP bought a new stake in Galectin Therapeutics in the 2nd quarter valued at $43,000. Rhumbline Advisers bought a new stake in Galectin Therapeutics in the second quarter valued at about $44,000. Gladstone Institutional Advisory LLC acquired a new position in Galectin Therapeutics in the third quarter worth about $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 worth $79,000 after purchasing an additional 21,598 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 18,907 shares in the last quarter. 11.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on GALT. HC Wainwright restated a “neutral” rating on shares of Galectin Therapeutics in a research note on Friday. StockNews.com upgraded shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

Galectin Therapeutics Company 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.