Stratos Wealth Partners LTD. Acquires 9,200 Shares of Galectin Therapeutics Inc. $GALT

Stratos Wealth Partners LTD. increased its holdings in shares of Galectin Therapeutics Inc. (NASDAQ:GALT) by 17.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,750 shares of the company’s stock after acquiring an additional 9,200 shares during the period. Stratos Wealth Partners LTD. owned about 0.10% of Galectin Therapeutics worth $128,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of GALT. Bank of America Corp DE grew its position in Galectin Therapeutics by 101.4% during the 4th quarter. Bank of America Corp DE now owns 38,358 shares of the company’s stock worth $49,000 after acquiring an additional 19,316 shares during the last quarter. Sovran Advisors LLC grew its position in Galectin Therapeutics by 7.4% during the 1st quarter. Sovran Advisors LLC now owns 199,830 shares of the company’s stock worth $244,000 after acquiring an additional 13,816 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Galectin Therapeutics during the 1st quarter worth approximately $287,000. Nuveen LLC bought a new stake in Galectin Therapeutics during the 1st quarter worth approximately $34,000. Finally, HighTower Advisors LLC grew its position in Galectin Therapeutics by 244.1% during the 1st quarter. HighTower Advisors LLC now owns 77,375 shares of the company’s stock worth $94,000 after acquiring an additional 54,889 shares during the last quarter. 11.68% of the stock is currently owned by institutional investors.

Galectin Therapeutics Stock Performance

Shares of GALT opened at $5.23 on Monday. The firm has a market capitalization of $337.23 million, a price-to-earnings ratio of -8.17 and a beta of 0.85. The business’s fifty day moving average price is $4.61 and its two-hundred day moving average price is $2.97. Galectin Therapeutics Inc. has a 52 week low of $0.73 and a 52 week high of $6.55.

Galectin Therapeutics (NASDAQ:GALT) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. As a group, research analysts forecast that Galectin Therapeutics Inc. will post -0.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on GALT. Weiss Ratings restated a “sell (d-)” rating on shares of Galectin Therapeutics in a research report on Saturday. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Galectin Therapeutics in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.00.

Insider Activity

In other news, CEO Joel Lewis sold 14,000 shares of the 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 owned 832,592 shares of the company’s stock, valued at $5,295,285.12. This represents a 1.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jack W. Callicutt sold 8,706 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $6.44, for a total value of $56,066.64. Following the completion of the transaction, the chief financial officer directly owned 7,614 shares in the company, valued at approximately $49,034.16. This trade represents a 53.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,706 shares of company stock valued at $392,107 in the last 90 days. 52.60% of the stock is owned by company insiders.

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.