Galectin Therapeutics (NASDAQ:GALT) Insider Khurram Jamil Sells 47,467 Shares of Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) insider Khurram Jamil sold 47,467 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $5.04, for a total transaction of $239,233.68. Following the completion of the sale, the insider owned 2,037 shares of the company’s stock, valued at approximately $10,266.48. This trade represents a 95.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Khurram Jamil also recently made the following trade(s):

• On Friday, June 26th, Khurram Jamil sold 4,570 shares of Galectin Therapeutics stock. The shares were sold at an average price of $5.00, for a total value of $22,850.00.
• 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 value 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 value of $1,760.80.

Galectin Therapeutics Price Performance

Shares of Galectin Therapeutics stock opened at $4.64 on Wednesday. The firm has a market cap of $305.59 million, a PE ratio of -11.32 and a beta of 0.47. Galectin Therapeutics Inc. has a 1 year low of $2.03 and a 1 year high of $7.13. The stock has a fifty day moving average price of $2.65 and a 200-day moving average price of $3.06.

Galectin Therapeutics (NASDAQ:GALT) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). As a group, equities analysts anticipate that Galectin Therapeutics Inc. will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Galectin Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of GALT. Bank of America Corp DE boosted its holdings in shares of Galectin Therapeutics by 114.9% in the first quarter. Bank of America Corp DE now owns 53,862 shares of the company’s stock worth $150,000 after acquiring an additional 28,799 shares during the period. Vivaldi Capital Management LP raised its stake in shares of Galectin Therapeutics by 26.7% during the 1st quarter. Vivaldi Capital Management LP now owns 258,584 shares of the company’s stock valued at $721,000 after purchasing an additional 54,514 shares during the period. Renaissance Technologies LLC purchased a new stake in Galectin Therapeutics during the 1st quarter worth about $413,000. Sovran Advisors LLC lifted its holdings in Galectin Therapeutics by 14.1% during the 1st quarter. Sovran Advisors LLC now owns 257,830 shares of the company’s stock worth $719,000 after purchasing an additional 31,956 shares in the last quarter. Finally, Tulsa Wealth Advisors INC bought a new position in Galectin Therapeutics in the 4th quarter worth about $97,000. Institutional investors own 11.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Weiss Ratings raised shares of Galectin Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of Galectin Therapeutics in a research report on Tuesday, June 23rd. Finally, Wall Street Zen upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.00.

About Galectin Therapeutics

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.