HC Wainwright Reaffirms Neutral Rating for Galectin Therapeutics (NASDAQ:GALT)

Galectin Therapeutics (NASDAQ:GALT)‘s stock had its “neutral” rating restated by analysts at HC Wainwright in a report released on Friday,Benzinga reports.

Separately, StockNews.com upgraded shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th.

Galectin Therapeutics Stock Performance

Shares of GALT stock traded up $0.33 during mid-day trading on Friday, hitting $1.20. The company’s stock had a trading volume of 4,406,403 shares, compared to its average volume of 258,280. The company has a market cap of $75.31 million, a PE ratio of -1.64 and a beta of 0.69. The company’s fifty day simple moving average is $2.37 and its 200-day simple moving average is $2.44. Galectin Therapeutics has a 52 week low of $0.73 and a 52 week high of $4.27.

Insider Activity at Galectin Therapeutics

In related news, CFO Jack W. Callicutt sold 40,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $0.89, for a total value of $35,600.00. Following the sale, the chief financial officer now owns 7,614 shares in the company, valued at $6,776.46. This represents a 84.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joel Lewis sold 56,000 shares of Galectin Therapeutics stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $0.89, for a total value of $49,840.00. Following the transaction, the chief executive officer now owns 897,012 shares of the company’s stock, valued at $798,340.68. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders bought 15,500 shares of company stock valued at $23,000 and sold 109,654 shares valued at $97,456. 50.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Galectin Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Galectin Therapeutics by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 862,542 shares of the company’s stock worth $2,372,000 after acquiring an additional 20,817 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Galectin Therapeutics by 317.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock valued at $1,092,000 after buying an additional 367,610 shares during the last quarter. State Street Corp boosted its stake in shares of Galectin Therapeutics by 9.3% in the 3rd quarter. State Street Corp now owns 251,014 shares of the company’s stock worth $690,000 after buying an additional 21,399 shares during the last quarter. Soltis Investment Advisors LLC bought a new position in shares of Galectin Therapeutics in the third quarter valued at approximately $387,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Galectin Therapeutics during the second quarter valued at approximately $227,000. Institutional investors own 11.68% of the company’s stock.

About Galectin Therapeutics

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.