Galecto, Inc. (NASDAQ:GLTO) Given Average Rating of “Moderate Buy” by Brokerages

Galecto, Inc. (NASDAQ:GLTO) has earned an average rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $41.00.

A number of research firms recently issued reports on GLTO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Galecto in a research note on Monday, December 29th. Leerink Partners assumed coverage on shares of Galecto in a report on Wednesday, January 7th. They issued an “outperform” rating and a $46.00 target price on the stock. Guggenheim increased their price target on shares of Galecto from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, December 8th. Lifesci Capital upgraded Galecto to a “strong-buy” rating in a research report on Monday, February 2nd. Finally, Zacks Research upgraded Galecto to a “hold” rating in a research report on Friday, January 9th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of Galecto in the 3rd quarter worth about $49,000. Two Sigma Investments LP purchased a new stake in Galecto in the 3rd quarter worth about $76,000. Connective Capital Management LLC bought a new stake in Galecto in the third quarter worth about $100,000. Geode Capital Management LLC purchased a new position in shares of Galecto during the fourth quarter valued at approximately $266,000. Finally, Sigma Planning Corp purchased a new position in shares of Galecto during the fourth quarter valued at approximately $334,000. Institutional investors own 14.20% of the company’s stock.

Galecto Price Performance

NASDAQ:GLTO opened at $21.80 on Friday. The company has a market cap of $34.81 million, a price-to-earnings ratio of -1.80 and a beta of 1.42. Galecto has a 1 year low of $2.01 and a 1 year high of $38.33. The stock’s 50 day simple moving average is $25.65 and its two-hundred day simple moving average is $14.24.

About Galecto

Galecto Inc is a clinical‐stage biotechnology company developing small‐molecule therapies that target key pathways involved in fibrotic and malignant diseases. The company’s research focuses on inhibiting galectin‐3, an extracellular carbohydrate‐binding protein implicated in inflammation, fibrosis and tumor progression, as well as lysyl oxidase‐like 2 (LOXL2), an enzyme that crosslinks collagen and elastin in fibrotic tissue.

Its lead programs include GB0139, an inhaled galectin‐3 inhibitor in Phase II trials for idiopathic pulmonary fibrosis and other fibrosing lung diseases, and GB1211, an oral galectin‐3 inhibitor being evaluated for systemic fibrotic disorders.