Galectin Therapeutics Target of Unusually High Options Trading (NASDAQ:GALT)

Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 15,740 put options on the company. This is an increase of 230% compared to the typical daily volume of 4,772 put options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GALT shares. HC Wainwright reissued a "neutral" rating on shares of Galectin Therapeutics in a report on Friday, December 27th. StockNews.com cut shares of Galectin Therapeutics from a "hold" rating to a "sell" rating in a research note on Monday, December 30th.

Insider Activity

In other Galectin Therapeutics news, CFO Jack W. Callicutt sold 40,000 shares of the firm'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 completion of the transaction, the chief financial officer now directly owns 7,614 shares of the company's stock, valued at approximately $6,776.46. This trade represents a 84.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joel Lewis sold 56,000 shares of Galectin Therapeutics 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 $49,840.00. Following the sale, the chief executive officer now owns 897,012 shares of the company's stock, valued at approximately $798,340.68. The trade was a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 17,000 shares of company stock valued at $17,040 and have sold 109,654 shares valued at $97,456. Corporate insiders own 50.10% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GALT. Wealth Enhancement Advisory Services LLC grew its position in shares of Galectin Therapeutics by 46.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 51,369 shares of the company's stock valued at $66,000 after purchasing an additional 16,271 shares during the period. JPMorgan Chase & Co. increased its stake in Galectin Therapeutics by 161.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,628 shares of the company's stock worth $84,000 after buying an additional 18,907 shares in the last quarter. Barclays PLC boosted its stake in shares of Galectin Therapeutics by 309.0% in the third quarter. Barclays PLC now owns 28,587 shares of the company's stock worth $79,000 after acquiring an additional 21,598 shares during the last quarter. Soltis Investment Advisors LLC purchased a new stake in shares of Galectin Therapeutics during the third quarter worth approximately $387,000. Finally, Geode Capital Management LLC raised its stake in Galectin Therapeutics by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 862,542 shares of the company's stock valued at $2,372,000 after purchasing an additional 20,817 shares during the last quarter. 11.68% of the stock is owned by institutional investors and hedge funds.

Galectin Therapeutics Stock Up 11.3 %

Shares of GALT stock traded up $0.13 during mid-day trading on Wednesday, hitting $1.28. 311,903 shares of the stock were exchanged, compared to its average volume of 475,307. The company has a market cap of $80.34 million, a PE ratio of -1.75 and a beta of 0.83. Galectin Therapeutics has a 52-week low of $0.73 and a 52-week high of $4.27. The firm has a fifty day moving average of $2.01 and a 200 day moving average of $2.33.

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.