Insider Selling: Rudolph Nisi Sells 200,000 Shares of Galena Biopharma Stock (GALE)
Galena Biopharma (NASDAQ:GALE) Director Rudolph Nisi sold 200,000 shares of the stock on the open market in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $6.90, for a total value of $1,380,000.00. Following the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $24,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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 research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $7.36.
Galena Biopharma (NASDAQ:GALE) traded down 5.02% during mid-day trading on Wednesday, hitting $6.06. The stock had a trading volume of 9,154,712 shares. Galena Biopharma has a one year low of $1.65 and a one year high of $7.77. The stock has a 50-day moving average of $5.08 and a 200-day moving average of $2.96. The company’s market cap is $637.7 million.
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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