Key Points
- Insider sale: Galectin Therapeutics insider Khurram Jamil sold 7,557 shares on June 23 at an average price of $3.14, totaling about $23,729. The transaction reduced his ownership by 50%.
- Stock and earnings snapshot: GALT opened at $4.23, with a market cap of about $278.6 million and a 52-week range of $2.03 to $7.13. The company also recently reported a quarterly loss of $0.08 per share, slightly worse than analysts expected.
- Wall Street view: Analyst sentiment is mixed but leans cautious, with an average rating of Hold and an average price target of $11.00. Recent research updates included a downgrade to Hold from Wall Street Zen and a reiterated Buy from HC Wainwright.
Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) insider Khurram Jamil sold 7,557 shares of the company's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $3.14, for a total transaction of $23,728.98. Following the completion of the transaction, the insider directly owned 7,557 shares of the company's stock, valued at approximately $23,728.98. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Khurram Jamil also recently made the following trade(s):
- On Tuesday, May 26th, Khurram Jamil sold 568 shares of Galectin Therapeutics stock. The shares were sold at an average price of $3.10, for a total value of $1,760.80.
Galectin Therapeutics Stock Performance
NASDAQ GALT opened at $4.23 on Friday. The stock has a market capitalization of $278.59 million, a price-to-earnings ratio of -10.32 and a beta of 0.47. The stock's 50 day moving average price is $2.50 and its two-hundred day moving average price is $3.08. Galectin Therapeutics Inc. has a 52 week low of $2.03 and a 52 week high of $7.13.
Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last released its earnings results on Friday, May 15th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.02). On average, equities research analysts forecast that Galectin Therapeutics Inc. will post -0.37 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Galectin Therapeutics by 25.4% during the third quarter. JPMorgan Chase & Co. now owns 15,470 shares of the company's stock worth $66,000 after acquiring an additional 3,133 shares during the period. Royal Bank of Canada boosted its holdings in Galectin Therapeutics by 1,197.3% in the 4th quarter. Royal Bank of Canada now owns 6,175 shares of the company's stock valued at $25,000 after purchasing an additional 5,699 shares during the period. Invesco Ltd. bought a new stake in Galectin Therapeutics in the 4th quarter valued at about $43,000. State Street Corp grew its position in shares of Galectin Therapeutics by 5.2% during the 4th quarter. State Street Corp now owns 242,232 shares of the company's stock worth $1,008,000 after purchasing an additional 11,892 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in shares of Galectin Therapeutics during the 4th quarter worth approximately $59,000. 11.68% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently weighed in on GALT. Wall Street Zen upgraded Galectin Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 13th. HC Wainwright reiterated a "buy" rating and issued a $11.00 price objective on shares of Galectin Therapeutics in a report on Tuesday. Finally, Weiss Ratings raised shares of Galectin Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $11.00.
Get Our Latest Report on Galectin Therapeutics
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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