Galecto (NASDAQ:GLTO) Posts Quarterly Earnings Results, Misses Expectations By $2.10 EPS

Galecto (NASDAQ:GLTO) released its quarterly earnings data on Wednesday. The company reported ($5.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.12) by ($2.10), Zacks reports.

Galecto Stock Performance

Shares of GLTO traded down $0.13 during mid-day trading on Thursday, reaching $4.11. 3,869 shares of the company were exchanged, compared to its average volume of 17,399. The business has a 50 day simple moving average of $4.70 and a two-hundred day simple moving average of $6.68. Galecto has a 52 week low of $3.76 and a 52 week high of $21.06. The stock has a market capitalization of $5.41 million, a PE ratio of -0.21 and a beta of 1.18.

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.