Galecto (NASDAQ:GLTO) Announces Earnings Results

Galecto (NASDAQ:GLTO) announced 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 Price Performance

Shares of GLTO stock traded down $0.13 during trading hours on Thursday, reaching $4.11. 3,869 shares of the company were exchanged, compared to its average volume of 18,367. Galecto has a fifty-two week low of $3.76 and a fifty-two week high of $21.06. The stock’s fifty day moving average is $4.70 and its two-hundred day moving average is $6.68. The company has a market cap of $5.41 million, a price-to-earnings ratio of -0.21 and a beta of 1.18.

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.