Galectin Therapeutics Inc. (NASDAQ:GALT) Shares Bought by Barclays PLC

Barclays PLC lifted its stake in shares of Galectin Therapeutics Inc. (NASDAQ:GALT) by 309.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,587 shares of the company’s stock after buying an additional 21,598 shares during the quarter. Barclays PLC’s holdings in Galectin Therapeutics were worth $79,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in Galectin Therapeutics during the 2nd quarter worth approximately $43,000. Rhumbline Advisers purchased a new stake in shares of Galectin Therapeutics in the second quarter valued at about $44,000. Gladstone Institutional Advisory LLC purchased a new stake in shares of Galectin Therapeutics in the third quarter valued at about $60,000. Kovitz Investment Group Partners LLC acquired a new position in shares of Galectin Therapeutics during the third quarter worth about $117,000. Finally, Retirement Guys Formula LLC raised its holdings in Galectin Therapeutics by 55.1% during the third quarter. Retirement Guys Formula LLC now owns 63,817 shares of the company’s stock worth $175,000 after purchasing an additional 22,660 shares in the last quarter. 11.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Jack W. Callicutt sold 40,000 shares of the firm’s 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 transaction, the chief financial officer now owns 7,614 shares in the company, valued at $6,776.46. This trade represents a 84.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joel Lewis sold 56,000 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 $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. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 22,000 shares of company stock worth $30,540 and sold 109,654 shares worth $97,456. Insiders own 50.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on GALT. HC Wainwright reiterated a “neutral” rating on shares of Galectin Therapeutics in a research report on Friday, December 27th. StockNews.com lowered Galectin Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, December 30th.

Galectin Therapeutics Stock Down 5.8 %

Shares of NASDAQ GALT opened at $1.13 on Friday. The stock has a market capitalization of $70.92 million, a price-to-earnings ratio of -1.55 and a beta of 0.83. Galectin Therapeutics Inc. has a 52 week low of $0.73 and a 52 week high of $4.27. The firm has a 50-day moving average price of $2.10 and a 200 day moving average price of $2.35.

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.