Galecto, Inc. (NASDAQ:GLTO – Get Free Report) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 20,400 shares, a growth of 56.9% from the January 31st total of 13,000 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average trading volume of 19,500 shares, the short-interest ratio is currently 1.0 days.
Galecto Stock Performance
Shares of Galecto stock traded up $0.12 during trading hours on Tuesday, hitting $4.13. The company’s stock had a trading volume of 4,221 shares, compared to its average volume of 19,773. The business has a 50 day moving average price of $4.95 and a two-hundred day moving average price of $7.36. Galecto has a 12-month low of $3.84 and a 12-month high of $23.50. The company has a market cap of $5.43 million, a PE ratio of -0.22 and a beta of 1.17.
Hedge Funds Weigh In On Galecto
A hedge fund recently bought a new stake in Galecto stock. Squarepoint Ops LLC bought a new position in Galecto, Inc. (NASDAQ:GLTO – Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,701 shares of the company’s stock, valued at approximately $59,000. Squarepoint Ops LLC owned approximately 0.96% of Galecto at the end of the most recent quarter. Hedge funds and other institutional investors own 14.20% of the company’s stock.
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.
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