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

Galecto, Inc. (NASDAQ:GLTO) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 14,700 shares, a growth of 129.7% from the September 15th total of 6,400 shares. Based on an average daily volume of 32,000 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.4% of the company’s stock are short sold.

Galecto Stock Up 5.1 %

Shares of NASDAQ GLTO traded up $0.35 during mid-day trading on Friday, reaching $7.27. 68,074 shares of the company were exchanged, compared to its average volume of 16,482. The stock has a market cap of $7.92 million, a price-to-earnings ratio of -0.31 and a beta of 1.16. Galecto has a 1 year low of $6.68 and a 1 year high of $23.50. The firm has a 50-day moving average of $12.05 and a 200 day moving average of $14.21.

Galecto (NASDAQ:GLTO) last released its quarterly earnings results on Monday, August 12th. The company reported ($4.00) EPS for the quarter, beating analysts’ consensus estimates of ($8.00) by $4.00. On average, equities analysts forecast that Galecto will post -18.75 earnings per share for the current 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.