Galecto, Inc. (NASDAQ:GLTO) Short Interest Update

Galecto, Inc. (NASDAQ:GLTO) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 8,200 shares, a growth of 173.3% from the July 15th total of 3,000 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 156,000 shares, the days-to-cover ratio is presently 0.1 days.

Galecto Stock Up 7.9 %

Galecto stock traded up $0.04 during mid-day trading on Thursday, hitting $0.58. 154,996 shares of the company’s stock traded hands, compared to its average volume of 189,215. Galecto has a one year low of $0.46 and a one year high of $0.94. The company has a market cap of $15.79 million, a PE ratio of -0.51 and a beta of 1.17. The firm has a 50 day moving average price of $0.52 and a 200 day moving average price of $0.64.

Galecto (NASDAQ:GLTO) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.16. On average, analysts expect that Galecto will post -1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Oppenheimer cut their price objective on shares of Galecto from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.33.

Galecto Company Profile

Galecto, Inc, a clinical-stage biotechnology company, develops molecules for the treatment of fibrosis, cancer, inflammation, and other related diseases. The company's lead product candidate is GB2064, which is in Phase IIa for the treatment of myelofibrosis. It also develops GB2064, a selective oral small molecule inhibitor of LOXL2 that is in Phase 2a clinical trial for the treatment of fibrotic diseases, including cancer and myelofibrosis; and GB1211, a selective oral galectin-3 inhibitor that is in Phase IIa for the treatment of cancer, as well as in Phase Ib/IIa for fibrosis.