Geode Capital Management LLC Acquires 20,817 Shares of Galectin Therapeutics Inc. (NASDAQ:GALT)

Geode Capital Management LLC grew its holdings in shares of Galectin Therapeutics Inc. (NASDAQ:GALT) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 862,542 shares of the company’s stock after acquiring an additional 20,817 shares during the period. Geode Capital Management LLC owned about 1.38% of Galectin Therapeutics worth $2,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. State Street Corp lifted its position in Galectin Therapeutics by 9.3% during the third quarter. State Street Corp now owns 251,014 shares of the company’s stock valued at $690,000 after purchasing an additional 21,399 shares in the last quarter. Squarepoint Ops LLC grew its stake 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 acquiring an additional 36,139 shares during the period. Commonwealth Equity Services LLC increased its holdings in Galectin Therapeutics by 317.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after acquiring an additional 367,610 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Galectin Therapeutics during the second quarter valued at approximately $146,000. Finally, Marshall Wace LLP bought a new position in shares of Galectin Therapeutics in the second quarter worth approximately $43,000. Institutional investors own 11.68% of the company’s stock.

Galectin Therapeutics Price Performance

GALT stock opened at $1.20 on Wednesday. Galectin Therapeutics Inc. has a 1-year low of $0.73 and a 1-year high of $4.27. The business has a 50 day simple moving average of $2.15 and a two-hundred day simple moving average of $2.37. The company has a market capitalization of $75.31 million, a price-to-earnings ratio of -1.64 and a beta of 0.83.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GALT shares. HC Wainwright restated a “neutral” rating on shares of Galectin Therapeutics in a research report on Friday, December 27th. StockNews.com cut Galectin Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, December 30th.

Insider Buying and Selling

In related news, 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 value of $49,840.00. Following the sale, the chief executive officer now directly owns 897,012 shares in the company, valued at approximately $798,340.68. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jack W. Callicutt sold 40,000 shares of the 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 $35,600.00. Following the transaction, the chief financial officer now directly owns 7,614 shares of the company’s stock, valued at approximately $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 quarter, insiders purchased 22,000 shares of company stock worth $30,540 and sold 109,654 shares worth $97,456. 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.