Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Joel Lewis Sells 56,000 Shares

Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Joel Lewis sold 56,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were 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 owns 897,012 shares in the company, valued at $798,340.68. This represents a 5.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Galectin Therapeutics Stock Performance

Shares of NASDAQ:GALT opened at $1.15 on Friday. The business has a fifty day moving average of $2.34 and a 200-day moving average of $2.43. Galectin Therapeutics Inc. has a twelve month low of $0.73 and a twelve month high of $4.27. The firm has a market cap of $72.18 million, a PE ratio of -1.58 and a beta of 0.69.

Analyst Ratings Changes

GALT has been the topic of a number of recent analyst reports. HC Wainwright restated a “neutral” rating on shares of Galectin Therapeutics in a research report on Friday. StockNews.com raised Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

Institutional Investors Weigh In On Galectin Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new position in shares of Galectin Therapeutics during the second quarter worth approximately $43,000. JPMorgan Chase & Co. raised its position in 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 purchasing an additional 18,907 shares during the last quarter. Rhumbline Advisers acquired a new position in Galectin Therapeutics during the 2nd quarter worth $44,000. Geode Capital Management LLC boosted its position in Galectin Therapeutics by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock valued at $2,372,000 after buying an additional 20,817 shares during the last quarter. Finally, State Street Corp increased 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. Institutional investors and hedge funds 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.