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

Galectin Therapeutics (NASDAQ:GALT - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at HC Wainwright in a report released on Friday,Benzinga reports.

Separately, StockNews.com raised shares of Galectin Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th.

Galectin Therapeutics Trading Up 32.2 %

NASDAQ GALT traded up $0.28 during mid-day trading on Friday, reaching $1.15. 5,981,120 shares of the company's stock traded hands, compared to its average volume of 264,984. Galectin Therapeutics has a 1-year low of $0.73 and a 1-year high of $4.27. The company has a fifty day simple moving average of $2.34 and a 200-day simple moving average of $2.43. The company has a market cap of $72.18 million, a price-to-earnings ratio of -1.58 and a beta of 0.69.

Insider Transactions at Galectin Therapeutics

In other news, CFO Jack W. Callicutt sold 40,000 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $0.89, for a total transaction of $35,600.00. Following the sale, the chief financial officer now owns 7,614 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joel Lewis sold 56,000 shares of the business's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $0.89, for a total transaction of $49,840.00. Following the sale, the chief executive officer now directly owns 897,012 shares in the company, valued at approximately $798,340.68. This trade represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 15,500 shares of company stock valued at $23,000 and have sold 109,654 shares valued at $97,456. Company insiders own 50.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GALT. Marshall Wace LLP acquired a new stake in shares of Galectin Therapeutics in the second quarter worth $43,000. Rhumbline Advisers bought a new position in Galectin Therapeutics in the 2nd quarter worth $44,000. Gladstone Institutional Advisory LLC acquired a new position in Galectin Therapeutics during the 3rd quarter worth $60,000. Barclays PLC boosted its holdings in Galectin Therapeutics by 309.0% during the third quarter. Barclays PLC now owns 28,587 shares of the company's stock valued at $79,000 after acquiring an additional 21,598 shares during the period. Finally, JPMorgan Chase & Co. grew its position 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 purchasing an additional 18,907 shares during 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.