Joel Lewis Sells 14,000 Shares of Galectin Therapeutics (NASDAQ:GALT) Stock

Key Points

• CEO Joel Lewis sold 14,000 shares of Galectin Therapeutics stock at an average price of $6.36, reducing his ownership by 1.65% to 832,592 shares.
• Galectin Therapeutics shares decreased by 19.5% on Monday, closing at $4.33, following a recent earnings report that surpassed estimates.
• Analysts have a consensus rating of "Buy" for Galectin Therapeutics, with a price target set at $6.00, indicating potential upside from current trading levels.

Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) CEO Joel Lewis sold 14,000 shares of the company's stock in a transaction on 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 in the company, valued at $5,295,285.12. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Galectin Therapeutics Trading Down 19.5%

Shares of NASDAQ:GALT traded down $1.05 on Monday, hitting $4.33. The company had a trading volume of 827,055 shares, compared to its average volume of 406,565. Galectin Therapeutics Inc. has a 52-week low of $0.73 and a 52-week high of $6.55. The business has a 50 day moving average of $3.67 and a 200 day moving average of $2.30. The company has a market cap of $277.06 million, a PE ratio of -6.79 and a beta of 0.86.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. HC Wainwright restated a "buy" rating and set a $6.00 price objective on shares of Galectin Therapeutics in a report on Thursday, August 14th. Wall Street Zen upgraded Galectin Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $6.00.

Institutional Investors Weigh In On Galectin Therapeutics

A number of institutional investors have recently added to or reduced their stakes in GALT. Nuveen LLC acquired a new position in shares of Galectin Therapeutics during the first quarter worth about $34,000. Bank of America Corp DE lifted its stake in shares of Galectin Therapeutics by 101.4% during the fourth quarter. Bank of America Corp DE now owns 38,358 shares of the company's stock worth $49,000 after purchasing an additional 19,316 shares in the last quarter. Vivaldi Capital Management LP lifted its stake in shares of Galectin Therapeutics by 89.9% during the fourth quarter. Vivaldi Capital Management LP now owns 45,628 shares of the company's stock worth $56,000 after purchasing an additional 21,596 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Galectin Therapeutics during the second quarter worth about $64,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Galectin Therapeutics by 46.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 51,510 shares of the company's stock worth $66,000 after purchasing an additional 16,412 shares in the last quarter. Hedge funds and other institutional investors own 11.68% of the company's stock.

Galectin Therapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.