Galectin Therapeutics (NASDAQ:GALT) Downgraded by StockNews.com to "Sell"

Galectin Therapeutics (NASDAQ:GALT - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Monday.

Separately, HC Wainwright restated a "neutral" rating on shares of Galectin Therapeutics in a report on Friday.

Galectin Therapeutics Price Performance

GALT stock traded down $0.05 on Monday, reaching $1.10. 889,799 shares of the company were exchanged, compared to its average volume of 267,486. The firm has a market capitalization of $69.04 million, a PE ratio of -1.51 and a beta of 0.69. Galectin Therapeutics has a 12 month low of $0.73 and a 12 month high of $4.27. The stock's fifty day moving average price is $2.34 and its 200 day moving average price is $2.43.

Insider Transactions 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 of the company's stock, valued at $6,776.46. The trade was a 84.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Joel Lewis sold 56,000 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $0.89, for a total transaction of $49,840.00. Following the transaction, the chief executive officer now owns 897,012 shares of the company's stock, valued at approximately $798,340.68. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 15,500 shares of company stock valued at $23,000 and have sold 109,654 shares valued at $97,456. 50.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Galectin Therapeutics

Several institutional investors have recently added to or reduced their stakes in GALT. Marshall Wace LLP acquired a new stake in Galectin Therapeutics during the 2nd quarter valued at $43,000. JPMorgan Chase & Co. increased its stake in shares of Galectin Therapeutics by 161.3% in the third quarter. JPMorgan Chase & Co. now owns 30,628 shares of the company's stock valued at $84,000 after buying an additional 18,907 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of Galectin Therapeutics in the second quarter valued at $44,000. Geode Capital Management LLC raised its holdings in shares of Galectin Therapeutics by 2.5% in the third quarter. Geode Capital Management LLC now owns 862,542 shares of the company's stock valued at $2,372,000 after buying an additional 20,817 shares during the last quarter. Finally, State Street Corp lifted its position in Galectin Therapeutics by 9.3% during 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 in the last quarter. 11.68% of the stock is owned by institutional investors.

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.

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.