Galectin Therapeutics Inc. (NASDAQ:GALT) Director Richard A. Jr. Zordani Purchases 5,000 Shares

Posted by MarketBeat News on Aug 1st, 2022

Galectin Therapeutics Inc. (NASDAQ:GALT – Get Rating) Director Richard A. Jr. Zordani bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was purchased at an average cost of $2.50 per share, with a total value of $12,500.00. Following the completion of the purchase, the director now directly owns 29,583 shares of the company’s stock, valued at approximately $73,957.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Galectin Therapeutics Trading Down 8.9 %

Shares of Galectin Therapeutics stock opened at $2.26 on Monday. The business has a fifty day simple moving average of $1.51 and a two-hundred day simple moving average of $1.67. Galectin Therapeutics Inc. has a 1 year low of $1.19 and a 1 year high of $4.24. The company has a market capitalization of $134.22 million, a price-to-earnings ratio of -3.90 and a beta of 1.55. The company has a debt-to-equity ratio of 79.37, a current ratio of 3.51 and a quick ratio of 3.51.

Galectin Therapeutics (NASDAQ:GALT – Get Rating) last announced its quarterly earnings results on Monday, May 16th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.07). Research analysts forecast that Galectin Therapeutics Inc. will post -0.75 EPS for the current year.

Institutional Investors Weigh In On Galectin Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Centaurus Financial Inc. acquired a new stake in shares of Galectin Therapeutics during the first quarter worth $34,000. Commonwealth Equity Services LLC lifted its holdings in shares of Galectin Therapeutics by 59.2% during the first quarter. Commonwealth Equity Services LLC now owns 26,902 shares of the company’s stock worth $43,000 after buying an additional 10,000 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Galectin Therapeutics by 25.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 29,615 shares of the company’s stock worth $61,000 after buying an additional 6,015 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Galectin Therapeutics by 21.7% during the first quarter. PNC Financial Services Group Inc. now owns 56,184 shares of the company’s stock worth $90,000 after buying an additional 10,000 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Galectin Therapeutics during the fourth quarter worth $92,000. Institutional investors and hedge funds own 12.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. HC Wainwright decreased their target price on shares of Galectin Therapeutics from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, May 17th. StockNews.com began coverage on shares of Galectin Therapeutics in a research note on Thursday. They issued a “sell” rating for the company.

About Galectin Therapeutics

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Galectin Therapeutics Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic, cancer, and other diseases. The company's lead product candidate is belapectin (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.