Insider Selling: Galena Biopharma Director Sells 250,000 Shares of Stock (GALE)
Galena Biopharma (NASDAQ:GALE) Director Sanford Hillsberg sold 250,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $5.41, for a total value of $1,352,500.00. Following the sale, the director now directly owns 17,974 shares in the company, valued at approximately $97,239. The sale was disclosed in a document filed with the SEC, which is available at this link.
GALE has been the subject of a number of recent research reports. 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, January 21st. 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, January 21st. 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 equities research analysts have rated the stock with a buy rating, Galena Biopharma presently has an average rating of “Buy” and an average price target of $7.36.
Shares of Galena Biopharma (NASDAQ:GALE) traded down 2.59% on Friday, hitting $5.27. The stock had a trading volume of 4,869,047 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 $5.33 and its 200-day moving average is $3.13. The company’s market cap is $554.6 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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