Galecto, Inc. (NASDAQ:GLTO – Get Free Report) saw a large increase in short interest in February. As of February 15th, there was short interest totalling 20,400 shares, an increase of 56.9% from the January 31st total of 13,000 shares. Based on an average trading volume of 19,500 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.8% of the company’s shares are sold short.
Hedge Funds Weigh In On Galecto
An institutional investor recently bought a new position in Galecto stock. Squarepoint Ops LLC acquired a new stake in Galecto, Inc. (NASDAQ:GLTO – Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,701 shares of the company’s stock, valued at approximately $59,000. Squarepoint Ops LLC owned approximately 0.96% of Galecto at the end of the most recent quarter. Institutional investors own 14.20% of the company’s stock.
Galecto Price Performance
Shares of NASDAQ GLTO traded down $0.37 during midday trading on Monday, hitting $4.01. The company’s stock had a trading volume of 21,255 shares, compared to its average volume of 20,164. The firm has a market capitalization of $5.28 million, a price-to-earnings ratio of -0.21 and a beta of 1.17. The business’s fifty day simple moving average is $4.95 and its two-hundred day simple moving average is $7.36. Galecto has a 1 year low of $3.84 and a 1 year high of $23.50.
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.
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