Galectin Therapeutics Inc. (NASDAQ:GALT) Short Interest Up 41.1% in December

Galectin Therapeutics Inc. (NASDAQ:GALT - Get Free Report) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 8,270,000 shares, a growth of 41.1% from the November 30th total of 5,860,000 shares. Based on an average daily trading volume, of 494,900 shares, the days-to-cover ratio is presently 16.7 days. Approximately 19.0% of the company's stock are sold short.

Galectin Therapeutics Stock Down 4.3 %

GALT stock traded down $0.05 during trading on Monday, hitting $1.10. The company had a trading volume of 889,799 shares, compared to its average volume of 267,486. The firm has a 50-day moving average price of $2.34 and a 200-day moving average price of $2.43. The firm has a market cap of $69.04 million, a PE ratio of -1.51 and a beta of 0.69. Galectin Therapeutics has a 1-year low of $0.73 and a 1-year high of $4.27.

Insider Transactions at Galectin Therapeutics

In related news, CFO Jack W. Callicutt sold 40,000 shares of Galectin Therapeutics stock in a transaction 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 directly owns 7,614 shares in the company, valued at $6,776.46. This trade represents a 84.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joel Lewis sold 56,000 shares of the company'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 completion of the transaction, the chief executive officer now owns 897,012 shares of the company's stock, valued at $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 purchased 15,500 shares of company stock worth $23,000 and sold 109,654 shares worth $97,456. Insiders own 50.10% of the company's stock.

Institutional Investors Weigh In On Galectin Therapeutics

Large investors have recently modified their holdings of the stock. Squarepoint Ops LLC grew its position in Galectin Therapeutics by 75.4% in the 2nd quarter. Squarepoint Ops LLC now owns 84,074 shares of the company's stock valued at $190,000 after buying an additional 36,139 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Galectin Therapeutics by 317.6% in the second quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company's stock valued at $1,092,000 after acquiring an additional 367,610 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Galectin Therapeutics during the second quarter worth about $146,000. Marshall Wace LLP acquired a new position in shares of Galectin Therapeutics during the second quarter worth about $43,000. Finally, Sanctuary Advisors LLC purchased a new position in Galectin Therapeutics during the second quarter worth about $227,000. Hedge funds and other institutional investors own 11.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GALT. HC Wainwright reaffirmed a "neutral" rating on shares of Galectin Therapeutics in a research report on Friday. StockNews.com cut shares of Galectin Therapeutics from a "hold" rating to a "sell" rating in a report on Monday.

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.