Galectin Therapeutics Inc. (GALT) Holdings Increased by BlackRock Inc.
BlackRock Inc. grew its holdings in Galectin Therapeutics Inc. (NASDAQ:GALT) by 199.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 588,308 shares of the company’s stock after purchasing an additional 392,151 shares during the period. BlackRock Inc. owned about 1.45% of Galectin Therapeutics worth $3,742,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. First Allied Advisory Services Inc. purchased a new position in shares of Galectin Therapeutics during the second quarter valued at $223,000. Belpointe Asset Management LLC purchased a new position in shares of Galectin Therapeutics during the second quarter valued at $277,000. Millennium Management LLC purchased a new position in shares of Galectin Therapeutics during the first quarter valued at $454,000. Finally, LPL Financial LLC purchased a new position in shares of Galectin Therapeutics during the first quarter valued at $112,000. Institutional investors and hedge funds own 13.85% of the company’s stock.
GALT opened at $4.78 on Friday. Galectin Therapeutics Inc. has a 1 year low of $1.28 and a 1 year high of $9.49. The stock has a market capitalization of $204.98 million, a price-to-earnings ratio of -9.76 and a beta of 2.76.
Several equities analysts have recently commented on GALT shares. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Galectin Therapeutics in a research note on Thursday, August 16th. BidaskClub upgraded Galectin Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, September 5th. Finally, ValuEngine upgraded Galectin Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $7.58.
In other Galectin Therapeutics news, Director Marc Rubin sold 11,900 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $6.58, for a total value of $78,302.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gilbert S. Omenn sold 19,370 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $6.02, for a total value of $116,607.40. Following the completion of the sale, the director now directly owns 56,561 shares of the company’s stock, valued at approximately $340,497.22. The disclosure for this sale can be found here. In the last three months, insiders sold 100,370 shares of company stock valued at $614,487. Corporate insiders own 38.80% of the company’s stock.
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Galectin Therapeutics Company Profile
Galectin Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic disease, skin disease, and cancer. The company's lead product candidate includes galectin-3 inhibitor (GR-MD-02), a galactoarabino-rhamnogalacturonan polysaccharide polymer for the treatment of liver fibrosis and liver cirrhosis in non-alcoholic steatohepatitis patients, as well as for the treatment of cancer.
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