Key Points
- CEO Joel Lewis sold a total of about 84,000 shares across Jan. 2, 5 and 6 (including 18,571 shares on Jan. 2), raising roughly $320k; the Jan. 2 filing showed he directly owned 898,021 shares after that sale (a reported 2.03% ownership decrease).
- Multiple other insiders, including CFO Jack W. Callicutt and Khurram Jamil, sold large blocks (~60,000 shares each) during the same period, a pattern of insider selling that can be perceived negatively by investors.
- Pomerantz LLP has opened an investor investigation into Galectin, adding legal scrutiny while analysts remain mixed (average price target $11 and a consensus "Hold") and the stock trades with a market cap of about $222 million.
Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) CEO Joel Lewis sold 18,571 shares of the company's stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $4.20, for a total transaction of $77,998.20. Following the completion of the sale, the chief executive officer directly owned 898,021 shares in the company, valued at approximately $3,771,688.20. This represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Joel Lewis also recently made the following trade(s):
- On Tuesday, January 6th, Joel Lewis sold 37,698 shares of Galectin Therapeutics stock. The shares were sold at an average price of $3.58, for a total value of $134,958.84.
- On Monday, January 5th, Joel Lewis sold 27,731 shares of Galectin Therapeutics stock. The stock was sold at an average price of $3.91, for a total value of $108,428.21.
- On Wednesday, December 17th, Joel Lewis sold 7,829 shares of Galectin Therapeutics stock. The stock was sold at an average price of $7.06, for a total transaction of $55,272.74.
- On Wednesday, November 5th, Joel Lewis sold 200 shares of Galectin Therapeutics stock. The shares were sold at an average price of $6.00, for a total value of $1,200.00.
- On Tuesday, November 4th, Joel Lewis sold 14,420 shares of Galectin Therapeutics stock. The shares were sold at an average price of $6.07, for a total value of $87,529.40.
- On Monday, November 3rd, Joel Lewis sold 1,300 shares of Galectin Therapeutics stock. The shares were sold at an average price of $6.01, for a total transaction of $7,813.00.
Galectin Therapeutics Price Performance
Shares of NASDAQ GALT opened at $3.45 on Wednesday. The company has a 50-day moving average price of $5.30 and a 200-day moving average price of $4.39. The stock has a market capitalization of $222.42 million, a P/E ratio of -5.85 and a beta of 1.03. Galectin Therapeutics Inc. has a 1 year low of $1.07 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 analysts' consensus estimates of ($0.11) by ($0.02). As a group, equities research analysts anticipate that Galectin Therapeutics Inc. will post -0.73 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts recently commented on GALT shares. HC Wainwright upped their price objective on Galectin Therapeutics from $6.00 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Galectin Therapeutics in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $11.00.
Get Our Latest Stock Report on GALT
More Galectin Therapeutics News
Here are the key news stories impacting Galectin Therapeutics this week:
- Neutral Sentiment: Regulatory disclosure: multiple Form 4 filings were submitted this week reporting the insider sales; investors can review the filings for exact timestamps and amounts. Form 4 - Jamil
- Negative Sentiment: CEO Joel Lewis sold a total of 84,000 shares across Jan. 2, 5 and 6 (average prices ~$4.20, $3.91, $3.58), raising roughly $320k and trimming his stake by a few percent. Large CEO sales can be perceived negatively by the market. Form 4 - Joel Lewis
- Negative Sentiment: CFO Jack W. Callicutt sold 60,000 shares over the same period (average prices ~$4.20–$3.67), generating roughly $233k; one filing shows his reported ownership dropping by ~72.8% after a transaction. Large, repeated sales from the CFO amplify concern about insider sentiment or liquidity needs. Form 4 - Jack Callicutt
- Negative Sentiment: Insider Khurram Jamil sold 60,000 shares across Jan. 2–6 at prices between ~$4.20 and $3.65 (~$232k total). Multiple insiders selling similar-sized blocks in the same window increases perceived downside risk. Form 4 - Khurram Jamil
- Negative Sentiment: Pomerantz LLP issued an investor alert announcing an investigation into Galectin, which may lead to litigation or heightened scrutiny and typically weighs on share price until resolved. INVESTOR ALERT: Pomerantz Investigates GALT
Institutional Investors Weigh In On Galectin Therapeutics
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nuveen LLC purchased a new position in Galectin Therapeutics during the first quarter worth about $34,000. Atwood & Palmer Inc. bought a new stake in shares of Galectin Therapeutics during the 3rd quarter valued at about $42,000. Archer Investment Corp bought a new stake in shares of Galectin Therapeutics during the 3rd quarter valued at about $47,000. Bank of America Corp DE grew its holdings in shares of Galectin Therapeutics by 101.4% during the fourth quarter. Bank of America Corp DE now owns 38,358 shares of the company's stock worth $49,000 after purchasing an additional 19,316 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of Galectin Therapeutics in the third quarter worth approximately $63,000. Hedge funds and other institutional investors own 11.68% of the company's stock.
About Galectin Therapeutics
(
Get Free Report)
Galectin Therapeutics, Inc is a clinical-stage biotechnology company focused on the development of novel therapies that target galectin proteins, which are implicated in fibrotic, inflammatory and malignant diseases. The company's lead product candidate, belapectin (formerly GR-MD-02), is a galectin-3 inhibitor being evaluated in Phase 2 clinical trials for nonalcoholic steatohepatitis (NASH) with cirrhosis. In addition to its core pipeline in fibrotic liver disease, Galectin Therapeutics continues to explore the potential of its galectin inhibitors in oncology and other indications driven by abnormal tissue remodeling.
Founded in 2000, the company is headquartered in Norcross, Georgia, where it oversees discovery research, preclinical studies and clinical trial coordination.
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