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

Galectin Therapeutics Inc. (NASDAQ:GALT) CEO Joel Lewis sold 56,000 shares of the business’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 sale, the chief executive officer now directly owns 897,012 shares of the company’s stock, valued at $798,340.68. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Galectin Therapeutics Stock Up 32.2 %

Galectin Therapeutics stock opened at $1.15 on Friday. The company’s 50 day moving average price is $2.34 and its two-hundred day moving average price is $2.43. The stock has a market cap of $72.18 million, a P/E ratio of -1.58 and a beta of 0.69. Galectin Therapeutics Inc. has a 52 week low of $0.73 and a 52 week high of $4.27.

Institutional Investors Weigh In On Galectin Therapeutics

Several large investors have recently made changes to their positions in GALT. JPMorgan Chase & Co. raised its position in Galectin Therapeutics by 161.3% in 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 period. Barclays PLC increased its stake in shares of Galectin Therapeutics by 309.0% during the 3rd quarter. Barclays PLC now owns 28,587 shares of the company’s stock worth $79,000 after purchasing an additional 21,598 shares during the last quarter. Soltis Investment Advisors LLC bought a new stake in shares of Galectin Therapeutics in the 3rd quarter worth approximately $387,000. Geode Capital Management LLC lifted its stake in Galectin Therapeutics by 2.5% in the third quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock valued at $2,372,000 after purchasing an additional 20,817 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new position in Galectin Therapeutics during the third quarter valued at $117,000. 11.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on GALT. StockNews.com upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. HC Wainwright reiterated a “neutral” rating on shares of Galectin Therapeutics in a research note on Friday.

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.