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

Galecto, Inc. (NASDAQ:GLTO) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 14,700 shares, an increase of 129.7% from the September 15th total of 6,400 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 32,000 shares, the short-interest ratio is presently 0.5 days.

Galecto Trading Up 5.1 %

GLTO traded up $0.35 during trading on Friday, hitting $7.27. The company’s stock had a trading volume of 68,074 shares, compared to its average volume of 16,482. The business’s fifty day simple moving average is $12.05 and its 200 day simple moving average is $14.21. The firm has a market capitalization of $7.92 million, a price-to-earnings ratio of -0.31 and a beta of 1.16. Galecto has a twelve month low of $6.68 and a twelve month high of $23.50.

Galecto (NASDAQ:GLTO) last issued its quarterly earnings results on Monday, August 12th. The company reported ($4.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($8.00) by $4.00. As a group, equities research analysts forecast that Galecto will post -18.75 earnings per share 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.