Galectin Therapeutics Inc. (NASDAQ:GALT) CFO Sells $35,600.00 in Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) CFO Jack W. Callicutt sold 40,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $0.89, for a total value of $35,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,614 shares of the company’s stock, valued at approximately $6,776.46. This trade represents a 84.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Galectin Therapeutics Stock Performance

GALT stock traded up $0.08 during trading on Thursday, reaching $0.92. 372,379 shares of the company were exchanged, compared to its average volume of 239,177. The stock’s 50 day moving average price is $2.41 and its 200 day moving average price is $2.45. Galectin Therapeutics Inc. has a 52-week low of $0.73 and a 52-week high of $4.27. The company has a market cap of $57.87 million, a P/E ratio of -1.26 and a beta of 0.69.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its position in shares of 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 buying an additional 367,610 shares in the last quarter. Soltis Investment Advisors LLC acquired a new position in Galectin Therapeutics during the third quarter worth about $387,000. Sanctuary Advisors LLC purchased a new stake in shares of Galectin Therapeutics in the second quarter valued at about $227,000. Bank of New York Mellon Corp acquired a new stake in shares of Galectin Therapeutics in the second quarter valued at approximately $146,000. Finally, Kovitz Investment Group Partners LLC purchased a new position in shares of Galectin Therapeutics during the 3rd quarter worth approximately $117,000. Hedge funds and other institutional investors own 11.68% of the company’s stock.

Analyst Upgrades and Downgrades

GALT has been the topic of several recent research reports. HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of Galectin Therapeutics in a research report on Friday, November 15th. StockNews.com upgraded shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th.

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.