Wall Street Zen Upgrades Galecto (NASDAQ:GLTO) to “Hold”

Galecto (NASDAQ:GLTO) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Galecto in a research note on Monday, December 1st. Guggenheim assumed coverage on Galecto in a report on Monday, December 1st. They issued a “buy” rating and a $32.00 target price for the company. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $32.00.

Galecto Stock Performance

Shares of Galecto stock opened at $27.46 on Friday. The company has a market cap of $36.52 million, a P/E ratio of -2.27 and a beta of 1.38. The firm has a fifty day moving average of $13.10 and a two-hundred day moving average of $6.78. Galecto has a one year low of $2.01 and a one year high of $33.60.

Galecto (NASDAQ:GLTO) last posted 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 year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP purchased a new stake in Galecto in the 3rd quarter valued at approximately $76,000. Virtu Financial LLC acquired a new position in shares of Galecto in the third quarter worth $49,000. Finally, Connective Capital Management LLC acquired a new position in shares of Galecto in the third quarter worth $100,000. 14.20% of the stock is currently owned by institutional investors and hedge funds.

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.