Sovran Advisors LLC Makes New Investment in Galectin Therapeutics Inc. (NASDAQ:GALT)

Sovran Advisors LLC acquired a new stake in shares of Galectin Therapeutics Inc. (NASDAQ:GALT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 186,014 shares of the company’s stock, valued at approximately $240,000. Sovran Advisors LLC owned approximately 0.30% of Galectin Therapeutics at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in Galectin Therapeutics by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock valued at $2,372,000 after buying an additional 20,817 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Galectin Therapeutics by 10.2% in the 4th quarter. Geneos Wealth Management Inc. now owns 388,935 shares of the company’s stock valued at $502,000 after purchasing an additional 36,000 shares in the last quarter. State Street Corp grew its holdings in shares of Galectin Therapeutics by 9.3% in the 3rd quarter. State Street Corp now owns 251,014 shares of the company’s stock worth $690,000 after purchasing an additional 21,399 shares during the last quarter. Soltis Investment Advisors LLC acquired a new stake in shares of Galectin Therapeutics during the 3rd quarter worth about $387,000. Finally, Sanctuary Advisors LLC bought a new position in Galectin Therapeutics during the 2nd quarter valued at about $227,000. 11.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GALT has been the subject of a number of research analyst reports. StockNews.com cut shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, December 30th. HC Wainwright reiterated a “neutral” rating on shares of Galectin Therapeutics in a research report on Friday, December 27th.

Galectin Therapeutics Stock Down 0.8 %

Shares of NASDAQ GALT opened at $1.30 on Friday. Galectin Therapeutics Inc. has a 12-month low of $0.73 and a 12-month high of $4.27. The firm’s 50-day simple moving average is $1.35 and its 200 day simple moving average is $2.16. The company has a market cap of $81.59 million, a price-to-earnings ratio of -1.78 and a beta of 0.82.

Insiders Place Their Bets

In other news, CEO Joel Lewis sold 56,000 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 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. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jack W. Callicutt sold 40,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $0.89, for a total value of $35,600.00. Following the completion of the transaction, the chief financial officer now owns 7,614 shares in the company, valued at approximately $6,776.46. This represents a 84.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,654 shares of company stock valued at $97,456. 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.