Galectin Therapeutics Sees Unusually Large Options Volume (NASDAQ:GALT)

Galectin Therapeutics Inc. (NASDAQ:GALT) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 15,740 put options on the stock. This represents an increase of 230% compared to the average volume of 4,772 put options.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GALT. HC Wainwright reaffirmed a “neutral” rating on shares of Galectin Therapeutics in a research report on Friday, December 27th. StockNews.com lowered shares of Galectin Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, December 30th.

Galectin Therapeutics Stock Down 2.3 %

GALT opened at $1.25 on Friday. Galectin Therapeutics has a 12-month low of $0.73 and a 12-month high of $4.27. The business has a 50 day moving average of $1.98 and a 200-day moving average of $2.32. The stock has a market cap of $78.45 million, a price-to-earnings ratio of -1.71 and a beta of 0.83.

Insider Buying and Selling at Galectin Therapeutics

In other Galectin Therapeutics news, CEO Joel Lewis sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $0.89, for a total value of $49,840.00. Following the completion of the transaction, the chief executive officer now directly owns 897,012 shares in the company, valued at $798,340.68. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jack W. Callicutt sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $0.89, for a total value of $35,600.00. Following the sale, the chief financial officer now owns 7,614 shares in the company, valued at approximately $6,776.46. This represents a 84.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 17,000 shares of company stock worth $17,040 and have sold 109,654 shares worth $97,456. Company insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Galectin Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its position in shares of Galectin Therapeutics by 46.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 51,369 shares of the company’s stock valued at $66,000 after purchasing an additional 16,271 shares during the period. Marshall Wace LLP bought a new position in Galectin Therapeutics in the 2nd quarter valued at about $43,000. JPMorgan Chase & Co. lifted its position in Galectin Therapeutics by 161.3% during the third quarter. JPMorgan Chase & Co. now owns 30,628 shares of the company’s stock worth $84,000 after acquiring an additional 18,907 shares during the last quarter. Rhumbline Advisers acquired a new stake in Galectin Therapeutics during the second quarter worth approximately $44,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Galectin Therapeutics by 2.5% during the third quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock worth $2,372,000 after acquiring an additional 20,817 shares during the period. Institutional investors and hedge funds own 11.68% of the company’s stock.

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.