StockNews.com Downgrades Galectin Therapeutics (NASDAQ:GALT) to Sell

Galectin Therapeutics (NASDAQ:GALT) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Separately, HC Wainwright reissued a “neutral” rating on shares of Galectin Therapeutics in a research note on Friday, December 27th.

Galectin Therapeutics Trading Up 17.3 %

Shares of Galectin Therapeutics stock opened at $1.29 on Monday. Galectin Therapeutics has a 1-year low of $0.73 and a 1-year high of $4.27. The business has a 50-day moving average price of $2.31 and a two-hundred day moving average price of $2.42. The company has a market cap of $80.96 million, a P/E ratio of -1.77 and a beta of 0.69.

Insiders Place Their Bets

In related news, CFO Jack W. Callicutt sold 40,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $0.89, for a total transaction of $35,600.00. Following the transaction, the chief financial officer now directly owns 7,614 shares of the company’s stock, valued at $6,776.46. This trade represents a 84.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joel Lewis sold 56,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $0.89, for a total transaction of $49,840.00. Following the transaction, the chief executive officer now owns 897,012 shares in the company, valued at approximately $798,340.68. This trade represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 22,000 shares of company stock worth $30,540 and have sold 109,654 shares worth $97,456. Corporate insiders own 50.10% of the company’s stock.

Institutional Trading of Galectin Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Marshall Wace LLP bought a new position in Galectin Therapeutics in the 2nd quarter valued at $43,000. Rhumbline Advisers bought a new position in Galectin Therapeutics during the second quarter valued at about $44,000. Gladstone Institutional Advisory LLC bought a new position in Galectin Therapeutics during the third quarter valued at about $60,000. Barclays PLC increased its holdings in Galectin Therapeutics by 309.0% during the third quarter. Barclays PLC now owns 28,587 shares of the company’s stock worth $79,000 after buying an additional 21,598 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Galectin Therapeutics by 161.3% in the third quarter. JPMorgan Chase & Co. now owns 30,628 shares of the company’s stock valued at $84,000 after acquiring an additional 18,907 shares during the last quarter. 11.68% of the stock is currently owned by institutional investors.

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.