Galecto (NASDAQ:GLTO) Releases Quarterly Earnings Results, Misses Expectations By $2.10 EPS

Galecto (NASDAQ:GLTO) released its quarterly earnings results on Wednesday. The company reported ($5.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.12) by ($2.10), Zacks reports.

Galecto Price Performance

Galecto stock opened at $4.11 on Friday. The company has a market cap of $5.41 million, a P/E ratio of -0.21 and a beta of 1.18. Galecto has a fifty-two week low of $3.76 and a fifty-two week high of $21.06. The firm’s 50 day simple moving average is $4.67 and its 200-day simple moving average is $6.67.

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.