JPMorgan Chase & Co. Grows Stake in Galectin Therapeutics Inc. (NASDAQ:GALT)

JPMorgan Chase & Co. increased its position in shares of Galectin Therapeutics Inc. (NASDAQ:GALT) by 161.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,628 shares of the company’s stock after purchasing an additional 18,907 shares during the quarter. JPMorgan Chase & Co.’s holdings in Galectin Therapeutics were worth $84,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Galectin Therapeutics by 2.5% during the 3rd 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 last quarter. State Street Corp grew its holdings in shares of Galectin Therapeutics by 9.3% during 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 period. Soltis Investment Advisors LLC acquired a new stake in shares of Galectin Therapeutics in the third quarter worth $387,000. Sanctuary Advisors LLC acquired a new stake in Galectin Therapeutics in the 2nd quarter valued at $227,000. Finally, Squarepoint Ops LLC raised its holdings 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 valued at $190,000 after buying an additional 36,139 shares during the period. Institutional investors and hedge funds own 11.68% of the company’s stock.

Analyst Upgrades and Downgrades

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

Galectin Therapeutics Price Performance

GALT stock opened at $1.23 on Tuesday. The firm has a fifty day moving average price of $1.57 and a two-hundred day moving average price of $2.22. Galectin Therapeutics Inc. has a 1-year low of $0.73 and a 1-year high of $4.27. The firm has a market cap of $77.19 million, a price-to-earnings ratio of -1.68 and a beta of 0.82.

Insider Buying and Selling

In related news, CFO Jack W. Callicutt sold 40,000 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joel Lewis sold 56,000 shares of Galectin Therapeutics stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $0.89, for a total value of $49,840.00. Following the completion of the transaction, the chief executive officer now directly owns 897,012 shares in the company, valued at $798,340.68. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,654 shares of company stock worth $97,456 over the last quarter. 50.10% of the stock is owned by company insiders.

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.