Galecto (NASDAQ:GLTO) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Galecto (NASDAQ:GLTO) from a hold rating to a sell rating in a research note issued to investors on Monday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Galecto in a research report on Monday, November 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Galecto Stock Performance

Shares of NASDAQ:GLTO opened at $17.39 on Monday. The stock’s 50-day moving average is $10.74 and its 200-day moving average is $5.88. The company has a market cap of $23.13 million, a P/E ratio of -1.44 and a beta of 1.45. Galecto has a 52-week low of $2.01 and a 52-week high of $33.60.

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

Institutional Trading of Galecto

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

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.