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

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

Galecto Stock Down 9.4 %

GLTO traded down $0.32 during trading on Monday, hitting $3.10. 39,633 shares of the stock were exchanged, compared to its average volume of 74,495. Galecto has a 1-year low of $3.00 and a 1-year high of $20.25. The stock has a fifty day moving average price of $4.65 and a two-hundred day moving average price of $6.30. The firm has a market capitalization of $4.10 million, a P/E ratio of -0.16 and a beta of 1.18.

Galecto (NASDAQ:GLTO) last announced its earnings results on Wednesday, March 19th. The company reported ($5.22) EPS for the quarter, missing analysts’ consensus estimates of ($3.12) by ($2.10). Analysts predict that Galecto will post -15.91 EPS for the current year.

Institutional Investors Weigh In On Galecto

An institutional investor recently bought a new position in Galecto stock. Squarepoint Ops LLC purchased a new stake in Galecto, Inc. (NASDAQ:GLTO) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,701 shares of the company’s stock, valued at approximately $59,000. Squarepoint Ops LLC owned 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 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.