Jack W. Callicutt Sells 8,706 Shares of Galectin Therapeutics (NASDAQ:GALT) Stock

Key Points

• Galectin Therapeutics CFO Jack Callicutt sold 8,706 shares at an average price of $6.44, representing a 53.35% decrease in his ownership, leaving him with 7,614 shares valued at approximately $49,034.16.
• The company's stock recently declined by 19.5%, trading at $4.33 with a market capitalization of $277.06 million.
• Despite challenges, analysts maintain a consensus "Buy" rating for Galectin Therapeutics, with an average target price of $6.00.

Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) CFO Jack W. Callicutt sold 8,706 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer owned 7,614 shares of the company's stock, valued at $49,034.16. This trade represents a 53.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Galectin Therapeutics Trading Up 3.4%

GALT stock traded up $0.16 during trading on Friday, reaching $4.80. The stock had a trading volume of 282,644 shares, compared to its average volume of 352,596. The firm has a fifty day moving average price of $3.90 and a 200 day moving average price of $2.39. The company has a market capitalization of $307.49 million, a P/E ratio of -7.50 and a beta of 0.86. Galectin Therapeutics Inc. has a 1-year low of $0.73 and a 1-year high of $6.55.

Galectin Therapeutics (NASDAQ:GALT - Get Free Report) last announced its 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. Sell-side analysts predict that Galectin Therapeutics Inc. will post -0.73 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on GALT. HC Wainwright reissued a "buy" rating and issued a $6.00 price objective on shares of Galectin Therapeutics in a report on Thursday, August 14th. Wall Street Zen raised Galectin Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $6.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GALT. Jane Street Group LLC bought a new position in Galectin Therapeutics in the 2nd quarter valued at about $1,580,000. Y Intercept Hong Kong Ltd bought a new position in Galectin Therapeutics during the first quarter valued at about $287,000. Vivaldi Capital Management LP grew its holdings in Galectin Therapeutics by 210.0% during the second quarter. Vivaldi Capital Management LP now owns 172,443 shares of the company's stock worth $364,000 after acquiring an additional 116,815 shares during the period. Wealthspire Advisors LLC raised its holdings in shares of Galectin Therapeutics by 20.4% in the 2nd quarter. Wealthspire Advisors LLC now owns 479,518 shares of the company's stock worth $1,012,000 after purchasing an additional 81,144 shares in the last quarter. Finally, Truist Financial Corp bought a new stake in Galectin Therapeutics during the second quarter worth approximately $143,000. 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.