Galecto, Inc. (NASDAQ:GLTO) Short Interest Up 51.4% in March

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

Institutional Inflows and Outflows

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

Galecto Stock Down 0.3 %

Shares of GLTO traded down $0.01 during midday trading on Friday, reaching $3.42. 65,899 shares of the stock were exchanged, compared to its average volume of 74,633. The company has a market cap of $4.52 million, a price-to-earnings ratio of -0.18 and a beta of 1.18. The firm has a 50 day simple moving average of $4.65 and a 200-day simple moving average of $6.35. Galecto has a 12-month low of $3.00 and a 12-month high of $20.25.

Galecto (NASDAQ:GLTO) last posted its earnings results on Wednesday, March 19th. The company reported ($5.22) EPS for the quarter, missing the consensus estimate of ($3.12) by ($2.10). Research analysts expect that Galecto will post -15.91 earnings per share for the current fiscal year.

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.