Galecto (NASDAQ:GLTO) Releases Quarterly Earnings Results

Galecto (NASDAQ:GLTO) released its quarterly earnings data on Thursday. The company reported ($2.36) earnings per share for the quarter, Zacks reports.

Galecto Stock Performance

Shares of GLTO stock traded down $0.12 during midday trading on Thursday, hitting $5.82. 20,313 shares of the company were exchanged, compared to its average volume of 834,596. The firm has a market capitalization of $7.68 million, a P/E ratio of -0.44 and a beta of 1.45. The firm’s 50 day moving average price is $6.06 and its two-hundred day moving average price is $4.23. Galecto has a 52 week low of $2.01 and a 52 week high of $31.70.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GLTO. Weiss Ratings restated a “sell (d-)” rating on shares of Galecto in a research note on Tuesday, October 14th. Wall Street Zen upgraded shares of Galecto to a “sell” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Galecto presently has an average rating of “Sell”.

Galecto Company Profile

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.