Galectin Therapeutics (NASDAQ:GALT) CFO Sells $173,778.03 in Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) CFO Jack Callicutt sold 28,629 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $6.07, for a total value of $173,778.03. Following the completion of the transaction, the chief financial officer owned 7,614 shares in the company, valued at approximately $46,216.98. The trade was a 78.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Galectin Therapeutics Stock Down 6.8%

GALT stock opened at $5.20 on Friday. The business has a 50 day moving average price of $4.90 and a 200 day moving average price of $3.25. The stock has a market cap of $335.29 million, a price-to-earnings ratio of -8.13 and a beta of 0.86. Galectin Therapeutics Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $6.55.

Galectin Therapeutics (NASDAQ:GALT) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. As a group, sell-side analysts anticipate that Galectin Therapeutics Inc. will post -0.73 EPS for the current year.

Hedge Funds Weigh In On Galectin Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in Galectin Therapeutics by 25.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,470 shares of the company’s stock worth $66,000 after acquiring an additional 3,133 shares during the period. Retirement Guys Formula LLC increased its holdings in shares of Galectin Therapeutics by 2.7% in the second quarter. Retirement Guys Formula LLC now owns 159,593 shares of the company’s stock valued at $337,000 after purchasing an additional 4,250 shares during the period. Stratos Wealth Partners LTD. raised its stake in shares of Galectin Therapeutics by 17.8% during the second quarter. Stratos Wealth Partners LTD. now owns 60,750 shares of the company’s stock worth $128,000 after purchasing an additional 9,200 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Galectin Therapeutics during the third quarter worth $42,000. Finally, Archer Investment Corp acquired a new stake in shares of Galectin Therapeutics during the third quarter worth $47,000. Institutional investors and hedge funds own 11.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on GALT. HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Galectin Therapeutics in a research note on Thursday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Galectin Therapeutics in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.00.

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.