Key Points
- Fund L.P. 10X sold 120,000 shares of Galectin Therapeutics on Dec. 3 at an average price of $5.73 for $687,600, leaving it with 5,682,207 shares — a 2.07% decline in its stake disclosed in an SEC filing.
- The seller has been actively reducing its position, also selling 30,000 shares on Dec. 2 (avg $5.47) and 50,000 shares on Oct. 22 (avg $4.94), indicating continued disposition over recent months.
- Stock and analyst context: GALT opened at $6.26, trades in a 52‑week range of $0.73–$6.66 with a $403.6M market cap, recently missed quarterly EPS estimates, and carries a consensus "Hold" rating with an average $6.00 price target.
Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) major shareholder Fund L.P. 10X sold 30,000 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $5.47, for a total value of $164,100.00. Following the completion of the transaction, the insider owned 5,802,207 shares of the company's stock, valued at $31,738,072.29. The trade was a 0.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Fund L.P. 10X also recently made the following trade(s):
- On Wednesday, December 3rd, Fund L.P. 10X sold 120,000 shares of Galectin Therapeutics stock. The shares were sold at an average price of $5.73, for a total value of $687,600.00.
- On Wednesday, October 22nd, Fund L.P. 10X sold 50,000 shares of Galectin Therapeutics stock. The shares were sold at an average price of $4.94, for a total value of $247,000.00.
Galectin Therapeutics Stock Performance
Shares of NASDAQ GALT traded down $0.17 during mid-day trading on Friday, reaching $6.14. 87,653 shares of the company's stock were exchanged, compared to its average volume of 386,854. The company's 50-day moving average is $5.25 and its 200-day moving average is $3.82. The firm has a market capitalization of $395.52 million, a price-to-earnings ratio of -10.60 and a beta of 0.95. Galectin Therapeutics Inc. has a 52-week low of $0.73 and a 52-week high of $6.66.
Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last posted its earnings results on Friday, November 14th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). As a group, equities analysts predict that Galectin Therapeutics Inc. will post -0.73 earnings per share for the current fiscal year.
Institutional Trading of Galectin Therapeutics
A number of hedge funds and other institutional investors have recently bought and sold shares of GALT. Bank of America Corp DE raised its stake in Galectin Therapeutics by 101.4% during the 4th quarter. Bank of America Corp DE now owns 38,358 shares of the company's stock worth $49,000 after acquiring an additional 19,316 shares in the last quarter. Nuveen LLC acquired a new stake in Galectin Therapeutics during the 1st quarter worth approximately $34,000. HighTower Advisors LLC lifted its holdings in shares of Galectin Therapeutics by 244.1% during the first quarter. HighTower Advisors LLC now owns 77,375 shares of the company's stock worth $94,000 after purchasing an additional 54,889 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Galectin Therapeutics by 8.8% in the first quarter. Geneos Wealth Management Inc. now owns 423,235 shares of the company's stock valued at $516,000 after acquiring an additional 34,300 shares in the last quarter. Finally, Retirement Guys Formula LLC boosted its holdings in Galectin Therapeutics by 2.7% in the 2nd 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 in the last quarter. 11.68% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on GALT. Weiss Ratings reissued a "sell (d-)" rating on shares of Galectin Therapeutics in a research report on Wednesday, October 8th. HC Wainwright reaffirmed a "buy" rating and issued a $6.00 price objective on shares of Galectin Therapeutics in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $6.00.
Check Out Our Latest Analysis on Galectin Therapeutics
About Galectin Therapeutics
(
Get Free Report)
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.
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