Galecto (NASDAQ:GLTO) Shares Scheduled to Reverse Split on Friday, August 30th

Galecto, Inc. (NASDAQ:GLTO)’s stock is scheduled to reverse split on the morning of Friday, August 30th. The 1-25 reverse split was announced on Wednesday, August 28th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, August 29th.

Galecto Price Performance

NASDAQ:GLTO traded down $0.04 during mid-day trading on Wednesday, hitting $0.52. 1,406,557 shares of the company’s stock were exchanged, compared to its average volume of 193,706. Galecto has a one year low of $0.46 and a one year high of $0.94. The business has a fifty day moving average price of $0.53 and a 200 day moving average price of $0.63. The company has a market cap of $14.10 million, a PE ratio of -0.49 and a beta of 1.17.

Galecto (NASDAQ:GLTO) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.16. On average, equities analysts forecast that Galecto will post -1.06 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Oppenheimer decreased their target price on shares of Galecto from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Monday, June 10th.

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.