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

Galecto, Inc. (NASDAQ:GLTO) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 27,700 shares, a growth of 51.4% from the February 28th total of 18,300 shares. Based on an average trading volume of 228,500 shares, the short-interest ratio is presently 0.1 days. Currently, 2.4% of the company’s shares are short sold.

Hedge Funds Weigh In On Galecto

A hedge fund recently bought a new stake in Galecto stock. Squarepoint Ops LLC bought a new position in shares of Galecto, Inc. (NASDAQ:GLTO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,701 shares of the company’s stock, valued at approximately $59,000. Squarepoint Ops LLC owned about 0.96% of Galecto at the end of the most recent quarter. 14.20% of the stock is owned by institutional investors and hedge funds.

Galecto Price Performance

Shares of Galecto stock traded up $0.10 during trading on Tuesday, hitting $3.20. The stock had a trading volume of 10,447 shares, compared to its average volume of 74,243. Galecto has a 12 month low of $3.00 and a 12 month high of $20.25. The firm’s fifty day simple moving average is $4.60 and its 200-day simple moving average is $6.22. The stock has a market cap of $4.23 million, a PE ratio of -0.17 and a beta of 1.18.

Galecto (NASDAQ:GLTO) last announced its quarterly earnings data on Wednesday, March 19th. The company reported ($5.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.12) by ($2.10). Analysts expect that Galecto will post -15.91 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.