Galecto (NASDAQ:GLTO) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Galecto (NASDAQ:GLTO) from a sell rating to a hold rating in a research note released on Sunday morning.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Galecto in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Galecto currently has an average rating of “Sell”.

Galecto Stock Performance

Shares of NASDAQ GLTO opened at $26.83 on Friday. The business has a 50 day simple moving average of $8.22 and a 200 day simple moving average of $5.02. Galecto has a 52 week low of $2.01 and a 52 week high of $33.60. The stock has a market cap of $35.68 million, a price-to-earnings ratio of -2.22 and a beta of 1.45.

Galecto (NASDAQ:GLTO) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($2.36) earnings per share for the quarter. On average, analysts predict that Galecto will post -15.91 EPS for the current year.

Institutional Trading of Galecto

A hedge fund recently bought a new stake in Galecto stock. Virtu Financial LLC bought a new stake in Galecto, Inc. (NASDAQ:GLTO) during the third quarter, according to its most recent filing with the SEC. The firm bought 13,128 shares of the company’s stock, valued at approximately $49,000. Virtu Financial LLC owned about 0.99% of Galecto at the end of the most recent quarter. Institutional investors and hedge funds own 14.20% of the company’s stock.

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.