Galecto, Inc. (NASDAQ:GLTO) Short Interest Down 32.1% in October

Galecto, Inc. (NASDAQ:GLTO) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totaling 89,100 shares, a drop of 32.1% from the September 30th total of 131,200 shares. Based on an average daily volume of 2,440,000 shares, the short-interest ratio is currently 0.0 days. Approximately 7.1% of the company’s stock are short sold. Approximately 7.1% of the company’s stock are short sold. Based on an average daily volume of 2,440,000 shares, the short-interest ratio is currently 0.0 days.

Galecto Price Performance

Shares of Galecto stock traded down $0.62 during trading hours on Monday, hitting $6.70. The company had a trading volume of 93,383 shares, compared to its average volume of 846,105. The company’s 50-day moving average is $5.89 and its two-hundred day moving average is $4.16. Galecto has a twelve month low of $2.01 and a twelve month high of $31.70. The company has a market cap of $8.88 million, a P/E ratio of -0.51 and a beta of 1.38.

Galecto (NASDAQ:GLTO) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($2.60) EPS for the quarter. Sell-side analysts expect that Galecto will post -15.91 EPS for the current year.

Analysts Set New Price Targets

GLTO has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Galecto in a research note on Tuesday, October 14th. Wall Street Zen raised 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, the company presently has a consensus 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.