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Galectin therapeutics director Freeman buys $27,000 in stock

Published 16/10/2024, 21:18
GALT
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Kevin D. Freeman, a director at Galectin Therapeutics Inc. (NASDAQ:GALT), recently acquired a total of 10,000 shares of the company's common stock. The transactions, executed on October 16, were completed at a fixed price of $2.70 per share, amounting to a total investment of $27,000.

The purchases were made in two separate transactions. Freeman directly acquired 5,000 shares, increasing his direct holdings to 33,469 shares. Additionally, another 5,000 shares were acquired indirectly through Freeman Global Holdings LLC, a limited liability company controlled by Freeman, bringing his indirect holdings to 80,000 shares.

It's noteworthy that Freeman also holds 18,063 shares indirectly through an IRA account. However, these holdings were not part of the recent transactions.

InvestingPro Insights

Kevin D. Freeman's recent purchase of Galectin Therapeutics Inc. (NASDAQ:GALT) shares comes at a time when the company's stock is trading at 62.09% of its 52-week high, suggesting potential upside. This insider buying activity aligns with some interesting financial metrics and analyst perspectives provided by InvestingPro.

According to InvestingPro data, Galectin Therapeutics has a market capitalization of $163.79 million, reflecting its current valuation in the biotech sector. The company's stock has shown resilience with a 24.4% price total return over the past year, and an impressive 56.63% year-to-date return, indicating positive momentum despite recent market volatility.

However, investors should note that Galectin faces some financial challenges. InvestingPro Tips highlight that the company suffers from weak gross profit margins and is not profitable over the last twelve months. Additionally, analysts do not anticipate the company will be profitable this year, with net income expected to drop.

These insights underscore the speculative nature of biotech investments and the importance of thorough due diligence. For a more comprehensive analysis, InvestingPro offers 11 additional tips for Galectin Therapeutics, providing investors with a deeper understanding of the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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