Galectin Therapeutics (NASDAQ:GALT) Lowered to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Galectin Therapeutics (NASDAQ:GALT) from a hold rating to a sell rating in a report issued on Monday.

Separately, HC Wainwright reiterated a “neutral” rating on shares of Galectin Therapeutics in a report on Friday.

Galectin Therapeutics Trading Down 4.3 %

Shares of GALT stock opened at $1.10 on Monday. The company’s fifty day moving average price is $2.34 and its 200-day moving average price is $2.43. The stock has a market cap of $69.04 million, a PE ratio of -1.51 and a beta of 0.69. Galectin Therapeutics has a 12 month low of $0.73 and a 12 month high of $4.27.

Insider Transactions at Galectin Therapeutics

In other news, CEO Joel Lewis sold 56,000 shares of Galectin Therapeutics 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. The trade was a 5.88 % decrease in their ownership of the stock. The sale 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 business’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 transaction of $35,600.00. Following the transaction, the chief financial officer now directly owns 7,614 shares of the company’s stock, valued at $6,776.46. The trade was a 84.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 15,500 shares of company stock worth $23,000 and have sold 109,654 shares worth $97,456. Insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Galectin Therapeutics

A number of large investors have recently added to or reduced their stakes in GALT. JPMorgan Chase & Co. boosted its stake in shares of Galectin Therapeutics by 161.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,628 shares of the company’s stock worth $84,000 after buying an additional 18,907 shares during the last quarter. Barclays PLC lifted its holdings in Galectin Therapeutics by 309.0% in the third quarter. Barclays PLC now owns 28,587 shares of the company’s stock valued at $79,000 after acquiring an additional 21,598 shares during the period. Soltis Investment Advisors LLC purchased a new position in Galectin Therapeutics in the third quarter worth about $387,000. Geode Capital Management LLC grew 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 valued at $2,372,000 after purchasing an additional 20,817 shares during the period. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of Galectin Therapeutics during the 3rd quarter valued at about $117,000. Institutional investors own 11.68% of the company’s stock.

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.