GalectoGLTO
GLTO
About: Galecto Inc is a clinical-stage biotechnology company developing therapeutics designed to target the biological processes that lie at the heart of fibrosis and impact a broad range of fibrotic and related diseases, including cancer. Its initial focus is on the development of small-molecule inhibitors of galectin-3 and lysyl oxidase-like 2, or LOXL2. Its product candidate GB0139 is for the treatment of severe fibrotic lung diseases such as idiopathic pulmonary fibrosis, or IPF, a life-threatening progressive fibrotic disease of the lung. Its product GB1211, a selective oral galectin-3 inhibitor for the treatment of fibrosis related to non-alcoholic steatohepatitis, or NASH, and GB2064, a selective oral inhibitor of LOXL2 that it initially plans to develop for the treatment of myelofibrosis.
Employees: 13
0
Funds holding %
of 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
4.61% less ownership
Funds ownership: 14.9% [Q2] → 10.29% (-4.61%) [Q3]
18% less capital invested
Capital invested by funds: $1.92M [Q2] → $1.56M (-$353K) [Q3]
59% less funds holding
Funds holding: 22 [Q2] → 9 (-13) [Q3]
87% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 15
100% less repeat investments, than reductions
Existing positions increased: 0 | Existing positions reduced: 7
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
Low target
$10
113%
upside
Avg. target
$10
113%
upside
High target
$10
113%
upside
1 analyst rating
1 positive
100%
0 neutral
0%
0 negative
0%
Oppenheimer Jay Olson 20% 1-year accuracy 20 / 102 met price target | 113%upside $10 | Outperform Maintained | 17 Oct 2024 |
Financial journalist opinion
Positive
Zacks Investment Research
1 month ago
Galecto (GLTO) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now
Galecto (GLTO) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.
Neutral
GlobeNewsWire
1 month ago
Galecto Reports Third Quarter 2024 Financial Results
- Completed strategic review to focus on oncology and severe liver diseases - Announced acquisition of global rights to BRM-1420, a dual ENL-YEATS and FLT3 inhibitor for multiple genetic subsets of AML from Bridge Medicines - Appointed Dr. Amy Wechsler to the Board of Directors and Matthew Kronmiller as Executive Vice President of Strategy and Chief Business Officer BOSTON, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ: GLTO), a clinical-stage biotechnology company focused on the development of novel treatments for cancer and severe liver diseases, today reported financial results for the third quarter ended September 30, 2024. “The third quarter was a pivotal period for Galecto highlighted by the completion of a strategic review to prioritize oncology and liver diseases and subsequent acquisition of BRM-1420, a novel, dual ENL-YEATS, and FLT3 inhibitor for multiple genetic subsets of acute myeloid leukemia (AML) that further strengthens our existing portfolio of first-in-class small molecule agents,” said Dr. Hans Schambye, CEO of Galecto.
Neutral
GlobeNewsWire
2 months ago
Galecto Strengthens Board of Directors with Appointment of Dr. Amy Wechsler
BOSTON, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ: GLTO), a clinical-stage biotechnology company focused on the development of novel treatments for cancer and fibrosis, today announced the appointment of Dr. Amy Wechsler to its Board of Directors. Dr. Wechsler brings a unique combination of expertise and a proven track record of leadership in the healthcare industry.
Neutral
GlobeNewsWire
2 months ago
Galecto Completes Strategic Review to Focus on Oncology and Liver Disease and Acquires Acute Myeloid Leukemia Preclinical Asset from Bridge Medicines
BOSTON, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ: GLTO), a clinical-stage biotechnology company focused on the development of novel treatments for cancer and fibrosis, today announced that, following an intensive strategic review process, Galecto has determined to focus on cancer and liver disease, leveraging its existing clinical stage asset GB1211, which has shown positive results in non-small cell lung cancer (NSCLC) and decompensated cirrhosis clinical studies. Galecto further announced that it has bolstered its pipeline with the acquisition of the global rights to BRM-1420, a novel, first-in-class asset developed by Bridge Medicines, a company co-founded by Takeda.
Neutral
GlobeNewsWire
3 months ago
Galecto Announces Reverse Stock Split
BOSTON, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Galecto, Inc. (NASDAQ: GLTO), a clinical-stage biotechnology company focused on the development of novel treatments for cancer and fibrosis, today announced that it will implement a 1-for-25 Reverse Stock Split of its common stock (the “Reverse Stock Split”), effective at 5:00 p.m. Eastern Time on Thursday, August 29, 2024. The Reverse Stock Split, which was approved by shareholders at the company's Annual Meeting of Stockholders on June 20, 2024, is primarily intended to bring the company into compliance with the minimum bid price requirement for maintaining its listing on The Nasdaq Capital Market. Beginning with the opening of trading on Friday, August 30, 2024, the company's common stock will trade on the Nasdaq Capital Market on a split-adjusted basis under the existing symbol “GLTO” and a new CUSIP number 36322Q 206.
Neutral
GlobeNewsWire
7 months ago
Galecto Announces First Patient Dosed in an Investigator-Initiated Phase 2 Trial of GB1211 in Combination with Pembrolizumab
An NCI-supported Phase 2 investigator-initiated trial at the Providence Cancer Institute in Portland, Oregon, has enrolled its first patient in a study exploring the combination of pembrolizumab (Keytruda®) and Galecto's GB1211, an oral galectin-3 inhibitor, in patients with metastatic melanoma and head and neck squamous cell carcinoma An NCI-supported Phase 2 investigator-initiated trial at the Providence Cancer Institute in Portland, Oregon, has enrolled its first patient in a study exploring the combination of pembrolizumab (Keytruda®) and Galecto's GB1211, an oral galectin-3 inhibitor, in patients with metastatic melanoma and head and neck squamous cell carcinoma
Positive
Zacks Investment Research
10 months ago
Galecto, Inc. (GLTO) Upgraded to Strong Buy: What Does It Mean for the Stock?
Galecto, Inc. (GLTO) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Positive
Zacks Investment Research
10 months ago
New Strong Buy Stocks for February 14th
GLTO, LUMN, MORF, SFST and STOK have been added to the Zacks Rank #1 (Strong Buy) List on February 14, 2023.
Positive
Zacks Investment Research
11 months ago
What Makes Galecto, Inc. (GLTO) a New Strong Buy Stock
Galecto, Inc. (GLTO) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Neutral
GlobeNewsWire
1 year ago
Topline Results from MYLOX-1 Trial Demonstrate Reduction in Fibrosis of the Bone Marrow in Patients with Myelofibrosis
Six of ten evaluable myelofibrosis patients who received GB2064 monotherapy for at least six months experienced a ≥ 1-grade reduction in collagen fibrosis of the bone marrow, validating LOXL2 as a clinical fibrosis target Six of ten evaluable myelofibrosis patients who received GB2064 monotherapy for at least six months experienced a ≥ 1-grade reduction in collagen fibrosis of the bone marrow, validating LOXL2 as a clinical fibrosis target
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