Galectin Therapeutics (NASDAQ:GALT) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Galectin Therapeutics (NASDAQ:GALT) from a hold rating to a sell rating in a research report released on Monday.

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

Galectin Therapeutics Stock Performance

Shares of NASDAQ:GALT opened at $1.29 on Monday. The firm has a market capitalization of $80.96 million, a PE ratio of -1.77 and a beta of 0.69. Galectin Therapeutics has a 52-week low of $0.73 and a 52-week high of $4.27. The firm has a fifty day moving average of $2.26 and a 200 day moving average of $2.40.

Insiders Place Their Bets

In related news, CEO Joel Lewis sold 56,000 shares of the firm’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 transaction of $49,840.00. Following the completion of the sale, the chief executive officer now owns 897,012 shares of the company’s stock, valued at $798,340.68. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jack W. Callicutt sold 40,000 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 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 approximately $6,776.46. The trade was a 84.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 22,000 shares of company stock worth $30,540 and have sold 109,654 shares worth $97,456. Corporate insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GALT. Marshall Wace LLP purchased a new stake in Galectin Therapeutics in the second quarter worth approximately $43,000. Rhumbline Advisers bought a new position in shares of Galectin Therapeutics during the 2nd quarter valued at $44,000. Gladstone Institutional Advisory LLC purchased a new position in shares of Galectin Therapeutics in the 3rd quarter worth $60,000. Barclays PLC grew its holdings in shares of Galectin Therapeutics by 309.0% in the third quarter. Barclays PLC now owns 28,587 shares of the company’s stock worth $79,000 after acquiring an additional 21,598 shares during the period. Finally, JPMorgan Chase & Co. increased its position 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 acquiring an additional 18,907 shares during the last quarter. 11.68% of the stock is owned by hedge funds and other institutional investors.

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.