Galecto (NASDAQ:GLTO) Shares Down 5.3% – Should You Sell?

Galecto, Inc. (NASDAQ:GLTO) shares dropped 5.3% during mid-day trading on Monday . The company traded as low as $5.62 and last traded at $6.02. Approximately 48,435 shares changed hands during trading, an increase of 190% from the average daily volume of 16,697 shares. The stock had previously closed at $6.36.

Analyst Upgrades and Downgrades

Separately, Oppenheimer lifted their price target on Galecto from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, October 17th.

Galecto Stock Down 1.5 %

The company has a market capitalization of $7.65 million, a P/E ratio of -0.30 and a beta of 1.24. The company’s 50-day simple moving average is $8.83 and its 200 day simple moving average is $11.96.

About Galecto

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.