Galectin Therapeutics’ (GALT) Sell (D-) Rating Reiterated at Weiss Ratings

Galectin Therapeutics (NASDAQ:GALT)‘s stock had its “sell (d-)” rating reiterated by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued reports about the company. HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Galectin Therapeutics in a research note on Thursday, August 14th. Wall Street Zen upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.00.

Galectin Therapeutics Trading Down 0.6%

NASDAQ:GALT opened at $4.74 on Wednesday. Galectin Therapeutics has a 1 year low of $0.73 and a 1 year high of $6.55. The stock has a market cap of $303.64 million, a price-to-earnings ratio of -7.41 and a beta of 0.85. The stock has a 50-day moving average price of $4.31 and a two-hundred day moving average price of $2.65.

Galectin Therapeutics (NASDAQ:GALT) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Sell-side analysts forecast that Galectin Therapeutics will post -0.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jack W. Callicutt sold 8,706 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $6.44, for a total transaction of $56,066.64. Following the completion of the transaction, the chief financial officer directly owned 7,614 shares of the company’s stock, valued at $49,034.16. This trade represents a 53.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joel Lewis sold 14,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $6.36, for a total value of $89,040.00. Following the transaction, the chief executive officer directly owned 832,592 shares of the company’s stock, valued at approximately $5,295,285.12. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 50.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Galectin Therapeutics

Several large investors have recently made changes to their positions in GALT. Nuveen LLC acquired a new stake in shares of Galectin Therapeutics in the 1st quarter valued at about $34,000. Bank of America Corp DE grew its stake in shares of Galectin Therapeutics by 101.4% in the 4th quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock valued at $49,000 after buying an additional 19,316 shares during the period. Marshall Wace LLP acquired a new stake in shares of Galectin Therapeutics in the 2nd quarter valued at about $64,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Galectin Therapeutics by 46.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,510 shares of the company’s stock valued at $66,000 after buying an additional 16,412 shares during the period. Finally, XTX Topco Ltd grew its stake in shares of Galectin Therapeutics by 226.6% in the 2nd quarter. XTX Topco Ltd now owns 42,805 shares of the company’s stock valued at $90,000 after buying an additional 29,699 shares during the period. 11.68% of the stock is currently owned by institutional investors and hedge funds.

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.