Galectin Therapeutics Inc. (NASDAQ:GALT) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in shares of Galectin Therapeutics Inc. (NASDAQ:GALT) by 46.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,369 shares of the company’s stock after acquiring an additional 16,271 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.08% of Galectin Therapeutics worth $66,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Galectin Therapeutics by 2.5% in the third quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock valued at $2,372,000 after purchasing an additional 20,817 shares during the period. State Street Corp boosted its stake 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 valued at $690,000 after buying an additional 21,399 shares during the period. Soltis Investment Advisors LLC purchased a new stake in shares of Galectin Therapeutics in the 3rd quarter valued at approximately $387,000. Sanctuary Advisors LLC acquired a new stake in shares of Galectin Therapeutics in the 2nd quarter valued at $227,000. Finally, Squarepoint Ops LLC lifted its position in shares of Galectin Therapeutics by 75.4% during the 2nd quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock worth $190,000 after purchasing an additional 36,139 shares during the last quarter. 11.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CEO Joel Lewis sold 56,000 shares of the 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 directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jack W. Callicutt sold 40,000 shares of Galectin Therapeutics stock in a transaction on Monday, December 23rd. The shares were 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 in the company, valued at approximately $6,776.46. This trade represents a 84.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 17,000 shares of company stock valued at $17,040 and have sold 109,654 shares valued at $97,456. 50.10% of the stock is currently owned by insiders.

Galectin Therapeutics Price Performance

Shares of Galectin Therapeutics stock opened at $1.24 on Friday. The stock has a market capitalization of $77.82 million, a price-to-earnings ratio of -1.70 and a beta of 0.83. The firm’s fifty day simple moving average is $1.92 and its 200-day simple moving average is $2.31. Galectin Therapeutics Inc. has a 12 month low of $0.73 and a 12 month high of $4.27.

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.