Galecto, Inc. (NASDAQ:GLTO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Galecto, Inc. (NASDAQ:GLTO) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $41.00.

GLTO has been the subject of several research analyst reports. Lifesci Capital raised shares of Galecto to a “strong-buy” rating in a research report on Monday, February 2nd. Zacks Research raised Galecto to a “hold” rating in a report on Friday, January 9th. Guggenheim upped their price objective on Galecto from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Wall Street Zen upgraded Galecto from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Galecto in a report on Monday, December 29th.

Galecto Trading Up 11.6%

Galecto stock opened at $25.26 on Friday. Galecto has a 52 week low of $2.01 and a 52 week high of $38.33. The stock has a market cap of $40.42 million, a P/E ratio of -2.09 and a beta of 1.42. The stock has a 50 day moving average of $25.49 and a 200-day moving average of $13.77.

Galecto (NASDAQ:GLTO) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($2.36) earnings per share (EPS) for the quarter. As a group, equities analysts predict that Galecto will post -15.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Connective Capital Management LLC acquired a new position in shares of Galecto in the 3rd quarter valued at about $100,000. Two Sigma Investments LP bought a new position in Galecto in the third quarter worth about $76,000. Sigma Planning Corp acquired a new position in Galecto in the fourth quarter valued at approximately $334,000. Finally, Virtu Financial LLC acquired a new position in Galecto in the third quarter valued at approximately $49,000. 14.20% of the stock is currently owned by institutional investors.

About Galecto

Galecto Inc is a clinical‐stage biotechnology company developing small‐molecule therapies that target key pathways involved in fibrotic and malignant diseases. The company’s research focuses on inhibiting galectin‐3, an extracellular carbohydrate‐binding protein implicated in inflammation, fibrosis and tumor progression, as well as lysyl oxidase‐like 2 (LOXL2), an enzyme that crosslinks collagen and elastin in fibrotic tissue.

Its lead programs include GB0139, an inhaled galectin‐3 inhibitor in Phase II trials for idiopathic pulmonary fibrosis and other fibrosing lung diseases, and GB1211, an oral galectin‐3 inhibitor being evaluated for systemic fibrotic disorders.