-$0.56 Earnings Per Share Expected for Galecto, Inc. (NASDAQ:GLTO) This Quarter

Equities research analysts predict that Galecto, Inc. (NASDAQ:GLTO) will post ($0.56) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Galecto’s earnings. The business is scheduled to announce its next quarterly earnings report on Monday, April 4th.

According to Zacks, analysts expect that Galecto will report full-year earnings of ($2.12) per share for the current fiscal year, with EPS estimates ranging from ($2.15) to ($2.09). For the next financial year, analysts anticipate that the business will post earnings of ($2.22) per share, with EPS estimates ranging from ($2.23) to ($2.20). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Galecto.

Galecto (NASDAQ:GLTO) last issued its quarterly earnings results on Thursday, November 4th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.06.

Separately, Zacks Investment Research cut shares of Galecto from a “buy” rating to a “hold” rating in a research note on Wednesday, January 5th.

Shares of NASDAQ GLTO traded down $0.09 during mid-day trading on Friday, hitting $2.42. The company had a trading volume of 197,064 shares, compared to its average volume of 208,530. The business’s 50-day simple moving average is $2.95 and its 200-day simple moving average is $3.75. Galecto has a 12 month low of $2.22 and a 12 month high of $16.41.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Galecto during the third quarter worth approximately $37,000. Two Sigma Advisers LP acquired a new stake in shares of Galecto during the third quarter worth approximately $874,000. Two Sigma Investments LP acquired a new stake in shares of Galecto during the third quarter worth approximately $547,000. Millennium Management LLC acquired a new stake in shares of Galecto during the third quarter worth approximately $299,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Galecto by 159.2% in the third quarter. Renaissance Technologies LLC now owns 102,900 shares of the company’s stock valued at $369,000 after purchasing an additional 63,200 shares in the last quarter. 41.17% of the stock is 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 GB0139, an inhaled inhibitor of galectin-3 that is in Phase IIb clinical trial for the treatment of severe fibrotic lung diseases, such as idiopathic pulmonary fibrosis, a life-threatening progressive fibrotic disease of the lung.

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