Key Points
- Director Harold Shlevin sold 22,268 shares of Galectin Therapeutics at an average price of $5.04, reducing his stake by 77.41% to 6,500 shares. The transaction was valued at about $112,231 and was filed with the SEC.
- Galectin Therapeutics reported a narrower-than-expected quarterly loss of $0.08 per share, missing analysts’ estimate of a $0.06 loss. Wall Street currently expects the company to post -$0.37 EPS for the fiscal year.
- Analysts remain cautious but optimistic overall, with HC Wainwright reiterating a Buy rating and a $11 price target. MarketBeat shows a consensus rating of Hold, while the stock recently traded at $4.64.
Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) insider Khurram Jamil sold 4,570 shares of the business's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $5.00, for a total transaction of $22,850.00. Following the completion of the sale, the insider owned 2,037 shares in the company, valued at $10,185. This represents a 69.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Khurram Jamil also recently made the following trade(s):
- On Monday, June 29th, Khurram Jamil sold 47,467 shares of Galectin Therapeutics stock. The shares were sold at an average price of $5.04, for a total transaction of $239,233.68.
- On Tuesday, June 23rd, Khurram Jamil sold 7,557 shares of Galectin Therapeutics stock. The shares were sold at an average price of $3.14, for a total transaction of $23,728.98.
- On Tuesday, May 26th, Khurram Jamil sold 568 shares of Galectin Therapeutics stock. The stock was sold at an average price of $3.10, for a total transaction of $1,760.80.
Galectin Therapeutics Price Performance
Shares of NASDAQ GALT opened at $4.64 on Wednesday. The firm's 50-day moving average is $2.65 and its two-hundred day moving average is $3.06. The company has a market capitalization of $305.59 million, a PE ratio of -11.32 and a beta of 0.47. Galectin Therapeutics Inc. has a 12-month low of $2.03 and a 12-month high of $7.13.
Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last issued its quarterly earnings data 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, analysts forecast that Galectin Therapeutics Inc. will post -0.37 EPS for the current fiscal year.
Hedge Funds Weigh In On Galectin Therapeutics
Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in shares of Galectin Therapeutics by 101.4% in the fourth 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 during the last quarter. XTX Topco Ltd raised its position in shares of Galectin Therapeutics by 226.6% in the 2nd quarter. XTX Topco Ltd now owns 42,805 shares of the company's stock worth $90,000 after buying an additional 29,699 shares during the period. Marshall Wace LLP purchased a new position in shares of Galectin Therapeutics in the 2nd quarter worth $64,000. Vivaldi Capital Management LP boosted its holdings in Galectin Therapeutics by 210.0% in the second quarter. Vivaldi Capital Management LP now owns 172,443 shares of the company's stock valued at $364,000 after acquiring an additional 116,815 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Galectin Therapeutics in the second quarter valued at $1,580,000. 11.68% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have weighed in on GALT. Wall Street Zen raised Galectin Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 13th. HC Wainwright restated a "buy" rating and issued a $11.00 price objective on shares of Galectin Therapeutics in a research report on Tuesday, June 23rd. Finally, Weiss Ratings raised Galectin Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Galectin Therapeutics currently has an average rating of "Hold" and an average price target of $11.00.
View Our Latest Research Report on GALT
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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