Investors Purchase High Volume of Galectin Therapeutics Put Options (NASDAQ:GALT)

Galectin Therapeutics Inc. (NASDAQ:GALT) was the target of unusually large options trading on Wednesday. Stock investors purchased 15,740 put options on the company. This is an increase of 230% compared to the typical volume of 4,772 put options.

Insider Buying and Selling

In other news, CFO Jack W. Callicutt sold 40,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $0.89, for a total value of $35,600.00. Following the sale, the chief financial officer now owns 7,614 shares of the company’s stock, valued at approximately $6,776.46. The trade was a 84.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joel Lewis sold 56,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $0.89, for a total value of $49,840.00. Following the transaction, the chief executive officer now directly 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 three months, insiders acquired 17,000 shares of company stock valued at $17,040 and sold 109,654 shares valued at $97,456. Corporate insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Galectin Therapeutics

Large investors have recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in Galectin Therapeutics during the 2nd quarter valued at about $43,000. Rhumbline Advisers acquired a new stake in Galectin Therapeutics during the second quarter valued at $44,000. Gladstone Institutional Advisory LLC purchased a new position in Galectin Therapeutics in the third quarter valued at about $60,000. Wealth Enhancement Advisory Services LLC increased its position in Galectin Therapeutics by 46.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 51,369 shares of the company’s stock worth $66,000 after purchasing an additional 16,271 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Galectin Therapeutics by 309.0% during the 3rd quarter. Barclays PLC now owns 28,587 shares of the company’s stock worth $79,000 after purchasing an additional 21,598 shares in the last quarter. Institutional investors and hedge funds own 11.68% of the company’s stock.

Analysts Set New Price Targets

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

Galectin Therapeutics Stock Performance

Shares of NASDAQ:GALT traded up $0.12 during midday trading on Wednesday, reaching $1.27. The company had a trading volume of 274,225 shares, compared to its average volume of 470,657. The company has a fifty day simple moving average of $2.01 and a two-hundred day simple moving average of $2.33. The firm has a market cap of $79.71 million, a price-to-earnings ratio of -1.74 and a beta of 0.83. Galectin Therapeutics has a 1-year low of $0.73 and a 1-year high of $4.27.

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.