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

Galecto, Inc. (NASDAQ:GLTO) was the target of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 20,400 shares, an increase of 56.9% from the January 31st total of 13,000 shares. Based on an average daily trading volume, of 19,500 shares, the short-interest ratio is currently 1.0 days. Approximately 1.8% of the company’s shares are short sold.

Galecto Price Performance

Shares of GLTO stock traded down $0.37 during trading on Monday, hitting $4.01. 21,255 shares of the stock traded hands, compared to its average volume of 20,164. Galecto has a 52-week low of $3.84 and a 52-week high of $23.50. The firm has a market capitalization of $5.28 million, a P/E ratio of -0.21 and a beta of 1.17. The firm’s fifty day moving average price is $4.95 and its 200-day moving average price is $7.36.

Hedge Funds Weigh In On Galecto

An institutional investor recently bought a new position in Galecto stock. Squarepoint Ops LLC acquired a new stake in Galecto, Inc. (NASDAQ:GLTO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,701 shares of the company’s stock, valued at approximately $59,000. Squarepoint Ops LLC owned 0.96% of Galecto at the end of the most recent quarter. Institutional investors own 14.20% of the company’s stock.

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.