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

Shares of Galecto, Inc. (NASDAQ:GLTO) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $43.6667.

GLTO has been the subject of several recent analyst reports. Wall Street Zen raised shares of Galecto from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Galecto in a report on Monday, December 29th. Lifesci Capital raised shares of Galecto to a “strong-buy” rating in a research note on Monday, February 2nd. Guggenheim restated a “buy” rating and set a $40.00 price objective (up from $36.00) on shares of Galecto in a research report on Tuesday, February 17th. Finally, Zacks Research raised Galecto to a “hold” rating in a report on Friday, January 9th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC bought a new position in shares of Galecto in the fourth quarter worth about $40,000. Geode Capital Management LLC acquired a new position in Galecto during the 4th quarter worth approximately $266,000. Virtu Financial LLC bought a new position in Galecto in the 3rd quarter valued at approximately $49,000. Sigma Planning Corp acquired a new stake in Galecto in the fourth quarter valued at approximately $334,000. Finally, Two Sigma Investments LP bought a new stake in shares of Galecto during the third quarter worth $76,000. Institutional investors own 14.20% of the company’s stock.

Galecto Stock Performance

NASDAQ:GLTO opened at $28.50 on Wednesday. The stock has a fifty day moving average price of $26.22 and a 200-day moving average price of $17.84. The company has a market cap of $45.60 million, a price-to-earnings ratio of -2.36 and a beta of 1.42. Galecto has a fifty-two week low of $2.01 and a fifty-two week high of $38.33.

Galecto Company Profile

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.