Galecto (NASDAQ:GLTO) Releases Quarterly Earnings Results

Galecto (NASDAQ:GLTO) issued its quarterly earnings data on Thursday. The company reported ($2.36) earnings per share (EPS) for the quarter, Zacks reports.

Galecto Stock Performance

GLTO traded down $0.87 on Friday, hitting $4.95. 39,217 shares of the company were exchanged, compared to its average volume of 127,198. Galecto has a 12 month low of $2.01 and a 12 month high of $31.70. The firm has a fifty day simple moving average of $6.15 and a two-hundred day simple moving average of $4.26. The stock has a market capitalization of $6.53 million, a PE ratio of -0.41 and a beta of 1.45.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GLTO shares. Wall Street Zen upgraded shares of Galecto from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Galecto in a research report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

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.