Galecto, Inc. (NASDAQ:GLTO) Sees Large Growth in Short Interest

Galecto, Inc. (NASDAQ:GLTO) saw 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 daily trading volume, of 19,500 shares, the short-interest ratio is currently 1.0 days.

Galecto Trading Up 2.9 %

Shares of NASDAQ:GLTO traded up $0.12 during mid-day trading on Tuesday, reaching $4.13. The stock had a trading volume of 4,221 shares, compared to its average volume of 19,773. The company has a market cap of $5.43 million, a P/E ratio of -0.22 and a beta of 1.17. Galecto has a 1 year low of $3.84 and a 1 year high of $23.50. The business’s 50 day moving average price is $4.95 and its 200 day moving average price is $7.36.

Institutional Investors Weigh In On Galecto

An institutional investor recently bought a new position in Galecto stock. Squarepoint Ops LLC acquired a new stake in shares of Galecto, Inc. (NASDAQ:GLTO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period. 14.20% of the stock is currently owned by hedge funds and other institutional investors.

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.