Key Points
- Fund L.P. 10X sold 30,681 Galectin Therapeutics shares on Dec. 16 at an average price of $6.66 for $204,335.46 and now directly owns 5,614,457 shares (a 0.54% reduction, valued at roughly $37.39M).
- The seller has been actively reducing its stake in recent months, also offloading 120,000 shares on Dec. 3, 30,000 on Dec. 2 and 50,000 on Oct. 22, signaling ongoing insider selling.
- Galectin trades near $6.16 with a market cap around $397M, recently missed quarterly EPS estimates, and has mixed analyst coverage with an average target of $11.
Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) major shareholder Fund L.P. 10X sold 30,681 shares of the business's stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $6.66, for a total transaction of $204,335.46. Following the transaction, the insider directly owned 5,614,457 shares in the company, valued at approximately $37,392,283.62. The trade was a 0.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions 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 stock was sold at an average price of $5.73, for a total transaction of $687,600.00.
- On Tuesday, December 2nd, Fund L.P. 10X sold 30,000 shares of Galectin Therapeutics stock. The stock was sold at an average price of $5.47, for a total transaction of $164,100.00.
- 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 transaction of $247,000.00.
Galectin Therapeutics Price Performance
Galectin Therapeutics stock opened at $6.16 on Friday. The firm has a 50 day simple moving average of $5.57 and a 200-day simple moving average of $4.15. The stock has a market cap of $397.14 million, a price-to-earnings ratio of -10.44 and a beta of 0.95. Galectin Therapeutics Inc. has a 1-year low of $0.73 and a 1-year high of $7.13.
Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Equities analysts expect that Galectin Therapeutics Inc. will post -0.73 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Galectin Therapeutics by 25.4% in the third quarter. JPMorgan Chase & Co. now owns 15,470 shares of the company's stock valued at $66,000 after purchasing an additional 3,133 shares in the last quarter. Retirement Guys Formula LLC lifted its holdings in Galectin Therapeutics by 2.7% during the 2nd quarter. Retirement Guys Formula LLC now owns 159,593 shares of the company's stock worth $337,000 after buying an additional 4,250 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in Galectin Therapeutics by 17.8% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 60,750 shares of the company's stock valued at $128,000 after buying an additional 9,200 shares during the period. Atwood & Palmer Inc. acquired a new position in shares of Galectin Therapeutics in the third quarter worth $42,000. Finally, Archer Investment Corp acquired a new position in shares of Galectin Therapeutics in the third quarter worth $47,000. 11.68% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Galectin Therapeutics in a research report on Wednesday, October 8th. HC Wainwright raised their price objective on Galectin Therapeutics from $6.00 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Galectin Therapeutics has an average rating of "Hold" and an average target price of $11.00.
Read Our Latest Report on Galectin Therapeutics
Galectin Therapeutics Company Profile
(
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.
Further Reading
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