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

Galecto, Inc. (NASDAQ:GLTO) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 14,700 shares, a growth of 129.7% from the September 15th total of 6,400 shares. Based on an average daily volume of 32,000 shares, the short-interest ratio is presently 0.5 days. Approximately 1.4% of the company’s shares are short sold.

Galecto Stock Performance

Shares of NASDAQ:GLTO traded up $0.35 during mid-day trading on Friday, hitting $7.27. 68,074 shares of the company traded hands, compared to its average volume of 16,482. The firm has a market cap of $7.92 million, a P/E ratio of -0.31 and a beta of 1.16. Galecto has a 52-week low of $6.68 and a 52-week high of $23.50. The firm’s 50 day simple moving average is $11.93 and its 200 day simple moving average is $14.10.

Galecto (NASDAQ:GLTO) last issued its quarterly earnings results on Monday, August 12th. The company reported ($4.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($8.00) by $4.00. Equities research analysts expect that Galecto will post -18.75 EPS for the current fiscal year.

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.