Galectin Therapeutics Inc. (NASDAQ:GALT) Director Purchases $13,500.00 in Stock

Galectin Therapeutics Inc. (NASDAQ:GALT) Director Kevin D. Freeman acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were bought at an average price of $2.70 per share, for a total transaction of $13,500.00. Following the completion of the purchase, the director now owns 33,469 shares in the company, valued at $90,366.30. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Galectin Therapeutics Stock Performance

Shares of GALT stock opened at $2.67 on Friday. The company has a market capitalization of $166.29 million, a PE ratio of -3.38 and a beta of 0.61. Galectin Therapeutics Inc. has a 52-week low of $1.55 and a 52-week high of $4.27. The business’s fifty day moving average is $2.59 and its 200 day moving average is $2.73.

Galectin Therapeutics (NASDAQ:GALT) last announced its earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). On average, sell-side analysts forecast that Galectin Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Galectin Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC increased its holdings in shares of Galectin Therapeutics by 317.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after buying an additional 367,610 shares during the last quarter. Wealthspire Advisors LLC grew its position in Galectin Therapeutics by 116.7% in the first quarter. Wealthspire Advisors LLC now owns 398,374 shares of the company’s stock worth $952,000 after acquiring an additional 214,512 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Galectin Therapeutics in the second quarter valued at $227,000. Bank of New York Mellon Corp purchased a new stake in Galectin Therapeutics during the second quarter valued at about $146,000. Finally, Vanguard Group Inc. lifted its stake in Galectin Therapeutics by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,979,891 shares of the company’s stock worth $4,732,000 after purchasing an additional 38,037 shares during the last quarter. 11.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GALT has been the topic of several analyst reports. StockNews.com upgraded Galectin Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Galectin Therapeutics in a research note on Friday, August 16th.

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.