Galectin Therapeutics Inc. (NASDAQ:GALT) Short Interest Up 41.1% in December

Galectin Therapeutics Inc. (NASDAQ:GALT) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 8,270,000 shares, a growth of 41.1% from the November 30th total of 5,860,000 shares. Currently, 19.0% of the company’s shares are sold short. Based on an average daily volume of 494,900 shares, the short-interest ratio is currently 16.7 days.

Galectin Therapeutics Trading Down 4.3 %

Shares of GALT traded down $0.05 during trading hours on Monday, reaching $1.10. 888,134 shares of the stock traded hands, compared to its average volume of 267,480. Galectin Therapeutics has a 52 week low of $0.73 and a 52 week high of $4.27. The stock has a fifty day simple moving average of $2.34 and a 200 day simple moving average of $2.43. The company has a market cap of $69.04 million, a price-to-earnings ratio of -1.51 and a beta of 0.69.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GALT. StockNews.com upgraded shares of Galectin Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. HC Wainwright reissued a “neutral” rating on shares of Galectin Therapeutics in a report on Friday.

Insider Transactions at Galectin Therapeutics

In related news, CEO Joel Lewis sold 56,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $0.89, for a total value of $49,840.00. Following the completion of the sale, the chief executive officer now directly owns 897,012 shares of the company’s stock, valued at $798,340.68. The trade was a 5.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jack W. Callicutt sold 40,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 7,614 shares in the company, valued at approximately $6,776.46. This trade represents a 84.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 15,500 shares of company stock worth $23,000 and have sold 109,654 shares worth $97,456. Corporate insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new position in Galectin Therapeutics during the second quarter valued at about $146,000. Commonwealth Equity Services LLC increased its stake in shares of Galectin Therapeutics by 317.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 483,351 shares of the company’s stock worth $1,092,000 after purchasing an additional 367,610 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Galectin Therapeutics in the 2nd quarter worth approximately $44,000. Marshall Wace LLP purchased a new position in Galectin Therapeutics in the second quarter valued at approximately $43,000. Finally, Squarepoint Ops LLC grew its holdings in Galectin Therapeutics by 75.4% during the second quarter. Squarepoint Ops LLC now owns 84,074 shares of the company’s stock valued at $190,000 after purchasing an additional 36,139 shares during the period. Hedge funds and other institutional investors own 11.68% of the company’s stock.

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.