Truist Financial Corp Makes New Investment in Galectin Therapeutics Inc. $GALT

Truist Financial Corp bought a new position in shares of Galectin Therapeutics Inc. (NASDAQ:GALT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 68,000 shares of the company's stock, valued at approximately $143,000. Truist Financial Corp owned 0.11% of Galectin Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Retirement Guys Formula LLC grew its holdings in shares of Galectin Therapeutics by 2.7% during the 2nd quarter. Retirement Guys Formula LLC now owns 159,593 shares of the company's stock worth $337,000 after acquiring an additional 4,250 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Galectin Therapeutics by 8.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 423,235 shares of the company's stock worth $516,000 after acquiring an additional 34,300 shares during the period. HighTower Advisors LLC grew its holdings in shares of Galectin Therapeutics by 244.1% during the 1st quarter. HighTower Advisors LLC now owns 77,375 shares of the company's stock worth $94,000 after acquiring an additional 54,889 shares during the period. Nuveen LLC purchased a new position in shares of Galectin Therapeutics during the 1st quarter worth approximately $34,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Galectin Therapeutics during the 1st quarter worth approximately $287,000. Hedge funds and other institutional investors own 11.68% of the company's stock.

Galectin Therapeutics Stock Performance

Shares of Galectin Therapeutics stock opened at $4.99 on Friday. Galectin Therapeutics Inc. has a one year low of $0.73 and a one year high of $6.55. The stock's fifty day moving average is $4.47 and its 200 day moving average is $2.83. The stock has a market cap of $319.66 million, a P/E ratio of -7.80 and a beta of 0.85.

Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.04. Analysts predict that Galectin Therapeutics Inc. will post -0.73 EPS for the current year.

Insider Transactions at Galectin Therapeutics

In other Galectin Therapeutics news, CEO Joel Lewis sold 14,000 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $6.36, for a total value of $89,040.00. Following the completion of the sale, the chief executive officer owned 832,592 shares of the company's stock, valued at $5,295,285.12. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jack W. Callicutt sold 8,706 shares of Galectin Therapeutics stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $6.44, for a total transaction of $56,066.64. Following the sale, the chief financial officer directly owned 7,614 shares of the company's stock, valued at $49,034.16. This represents a 53.35% decrease in their position. The disclosure for this sale can be found here. 50.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GALT. HC Wainwright restated a "buy" rating and issued a $6.00 price target on shares of Galectin Therapeutics in a research note on Thursday, August 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Galectin Therapeutics in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Galectin Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Galectin Therapeutics currently has a consensus rating of "Hold" and a consensus target price of $6.00.

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.

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