Galectin Therapeutics, Inc. (NASDAQ:GALT) Major Shareholder Sells $29,700.00 in Stock

Galectin Therapeutics, Inc. (NASDAQ:GALT) major shareholder Fund L.P. 10X sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $2.97, for a total transaction of $29,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of NASDAQ:GALT opened at $2.79 on Friday. The company has a 50-day simple moving average of $2.77 and a 200-day simple moving average of $2.64. Galectin Therapeutics, Inc. has a one year low of $1.50 and a one year high of $4.50. The stock has a market capitalization of $159.15 million, a price-to-earnings ratio of -8.21 and a beta of 2.33.

Galectin Therapeutics (NASDAQ:GALT) last announced its earnings results on Monday, August 10th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). On average, equities research analysts forecast that Galectin Therapeutics, Inc. will post -0.46 earnings per share for the current fiscal year.

GALT has been the subject of a number of research reports. Zacks Investment Research raised shares of Galectin Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 13th. HC Wainwright upped their target price on shares of Galectin Therapeutics from $9.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, August 13th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brookstone Capital Management purchased a new position in Galectin Therapeutics during the third quarter worth about $34,000. Two Sigma Advisers LP purchased a new position in Galectin Therapeutics during the second quarter worth about $36,000. Nuveen Asset Management LLC raised its holdings in Galectin Therapeutics by 39.9% during the second quarter. Nuveen Asset Management LLC now owns 181,943 shares of the company’s stock worth $556,000 after purchasing an additional 51,921 shares in the last quarter. Bank of America Corp DE raised its holdings in Galectin Therapeutics by 145.8% during the second quarter. Bank of America Corp DE now owns 10,895 shares of the company’s stock worth $33,000 after purchasing an additional 6,462 shares in the last quarter. Finally, Advisor Group Holdings Inc. raised its holdings in Galectin Therapeutics by 17.1% during the second quarter. Advisor Group Holdings Inc. now owns 1,012,430 shares of the company’s stock worth $3,098,000 after purchasing an additional 148,155 shares in the last quarter. 17.78% of the stock is owned by hedge funds and other institutional investors.

Galectin Therapeutics Company Profile

Galectin Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, skin, and cancer diseases. The company's lead product candidate includes GR-MD-02 galectin-3 inhibitor, a galactoarabino-rhamnogalacturonan polysaccharide polymer that is in Phase III clinical trial for the treatment of liver fibrosis associated with fatty liver disease and non-alcoholic steatohepatitis cirrhosis, as well as for the treatment of cancer.

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