Galecto (NASDAQ:GLTO) Announces Quarterly Earnings Results

Galecto (NASDAQ:GLTO) posted its earnings results on Wednesday. The company reported ($5.22) EPS for the quarter, missing the consensus estimate of ($3.12) by ($2.10), Zacks reports.

Galecto Stock Down 3.0 %

NASDAQ GLTO traded down $0.13 on Thursday, hitting $4.11. The stock had a trading volume of 3,869 shares, compared to its average volume of 18,367. The company’s 50-day moving average is $4.70 and its two-hundred day moving average is $6.68. The stock has a market cap of $5.41 million, a price-to-earnings ratio of -0.21 and a beta of 1.18. Galecto has a one year low of $3.76 and a one year high of $21.06.

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.