Galecto, Inc. (NASDAQ:GLTO) Short Interest Update

Galecto, Inc. (NASDAQ:GLTO) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 9,500 shares, a growth of 97.9% from the October 31st total of 4,800 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily volume of 39,900 shares, the short-interest ratio is presently 0.2 days.

Galecto Stock Performance

Shares of NASDAQ:GLTO traded down $0.21 on Friday, reaching $5.30. The company’s stock had a trading volume of 29,074 shares, compared to its average volume of 16,691. The company has a 50-day simple moving average of $7.72 and a 200 day simple moving average of $11.38. Galecto has a 52-week low of $5.30 and a 52-week high of $23.50. The company has a market cap of $7.00 million, a P/E ratio of -0.28 and a beta of 1.24.

Analyst Ratings Changes

Separately, Oppenheimer boosted their price objective on Galecto from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th.

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.