Galecto, Inc. (NASDAQ:GLTO) Short Interest Up 560.3% in September

Galecto, Inc. (NASDAQ:GLTO) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 83,200 shares, an increase of 560.3% from the August 31st total of 12,600 shares. Based on an average daily volume of 935,100 shares, the short-interest ratio is presently 0.1 days. Approximately 7.3% of the shares of the stock are short sold. Approximately 7.3% of the shares of the stock are short sold. Based on an average daily volume of 935,100 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Galecto stock. Squarepoint Ops LLC acquired a new position in Galecto, Inc. (NASDAQ:GLTO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 12,701 shares of the company’s stock, valued at approximately $59,000. Squarepoint Ops LLC owned 0.96% of Galecto at the end of the most recent quarter. Institutional investors and hedge funds own 14.20% of the company’s stock.

Galecto Stock Up 12.2%

Shares of GLTO stock opened at $3.95 on Friday. The firm has a market cap of $5.21 million, a P/E ratio of -0.30 and a beta of 1.38. The business has a 50-day moving average price of $3.34 and a two-hundred day moving average price of $3.25. Galecto has a 12-month low of $2.01 and a 12-month high of $12.09.

Galecto (NASDAQ:GLTO) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($2.60) EPS for the quarter. As a group, research analysts expect that Galecto will post -15.91 EPS for the current fiscal year.

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.