Galectin Therapeutics (NASDAQ:GALT) Given “Neutral” Rating at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Galectin Therapeutics (NASDAQ:GALT) in a research report report published on Friday morning,Benzinga reports.

Separately, StockNews.com upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

Galectin Therapeutics Stock Performance

GALT stock opened at $1.15 on Friday. The stock has a market cap of $72.18 million, a P/E ratio of -1.58 and a beta of 0.69. The firm has a 50 day simple moving average of $2.34 and a 200 day simple moving average of $2.43. Galectin Therapeutics has a 52 week low of $0.73 and a 52 week high of $4.27.

Insider Buying and Selling at Galectin Therapeutics

In related news, CFO Jack W. Callicutt sold 40,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $0.89, for a total transaction of $35,600.00. Following the completion of the transaction, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $49,840.00. Following the completion of the sale, the chief executive officer now directly owns 897,012 shares in the company, valued at $798,340.68. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 15,500 shares of company stock worth $23,000 and sold 109,654 shares worth $97,456. Corporate insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Galectin Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of GALT. Marshall Wace LLP acquired a new stake in Galectin Therapeutics in the 2nd quarter worth $43,000. JPMorgan Chase & Co. raised its stake in shares of Galectin Therapeutics by 161.3% in 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. Rhumbline Advisers acquired a new position in shares of Galectin Therapeutics in the second quarter valued at $44,000. Geode Capital Management LLC lifted its position in Galectin Therapeutics by 2.5% in the third quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock worth $2,372,000 after purchasing an additional 20,817 shares during the period. Finally, State Street Corp boosted its stake in Galectin Therapeutics by 9.3% during the third quarter. State Street Corp now owns 251,014 shares of the company’s stock worth $690,000 after buying an additional 21,399 shares in the last quarter. Institutional investors own 11.68% of the company’s stock.

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.