Insider Selling: Galena Biopharma Director Sells 450,000 Shares of Stock (GALE)
Galena Biopharma (NASDAQ:GALE) Director Steven A. Kriegsman unloaded 450,000 shares of Galena Biopharma stock on the open market in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $6.52, for a total value of $2,934,000.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $32,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Galena Biopharma (NASDAQ:GALE) traded down 5.02% on Wednesday, hitting $6.06. The stock had a trading volume of 9,154,712 shares. Galena Biopharma has a 52-week low of $1.65 and a 52-week high of $7.77. The stock’s 50-day moving average is $5.08 and its 200-day moving average is $2.96. The company’s market cap is $637.7 million.
Several analysts have recently commented on the stock. Analysts at Maxim Group raised their price target on shares of Galena Biopharma from $9.00 to $11.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Needham & Company raised their price target on shares of Galena Biopharma to $9.00 in a research note to investors on Tuesday. Finally, analysts at Roth Capital raised their price target on shares of Galena Biopharma from $11.00 to $12.00 in a research note to investors on Tuesday, January 14th. Five analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $7.36.
Galena Biopharma, Inc (NASDAQ:GALE), formerly RXi Pharmaceuticals Corporation, is a biotechnology company focused on discovering, developing and commercializing therapies addressing unmet medical needs using RNAi-targeted and immunotherapy technologies.
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