The Vanguard Group, Inc. has recently announced that it has increased stake in Galecto Inc (NASDAQ:GLTO) by 51.91%. After grabbing 0.21 million shares, the institutional investor is now in possession of 71342.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 0.77% having worth around $0.13 million. Moreover, Geode Capital Management LLC increased its share by 14642.0 to have a control over 0.21 million shares. And Renaissance Technologies LLC raised its holdings to 39239.0 shares by acquiring 0.21 million shares or 0.76% of the stake.
Galecto Inc (GLTO) concluded trading on 12/21/23 at a closing price of $0.62, with 3.61 million shares of worth about $2.24 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -75.80% during that period and on Thursday the price saw a gain of about 1.61%. Currently the company’s common shares owned by public are about 25.65M shares, out of which, 19.27M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 33 times over the past 12 months. They bought 0 shares in 0 of the transactions. In 33 selling transactions, insiders dumped 1,411,663 shares.
Vanguard Extended Market Index Fu, Bridgeway Ultra Small Company Mar, and Fidelity Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Galecto Inc Vanguard Extended Market Index Fu is currently holding 0.21 million shares of worth totaling $0.13 million. The company recently came buying 0.0 shares which brought its stake up to 0.77% of the company’s outstanding shares. Fidelity Extended Market Index Fu, after buying 0.1 million shares, have now control over 0.39% of the stake in the company. It holds 0.0 shares of worth $65875.0.
However, the stock later moved at a day high price of 0.6579, or with a gain of 1.61%. Stock saw a price change of -0.86% in past 5 days and over the past one month there was a price change of 9.66%. Year-to-date (YTD), GLTO shares are showing a performance of -46.12% which decreased to -53.76% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.50 but also hit the highest price of $3.70 during that period. The average intraday trading volume for Galecto Inc shares is 483.72K. The stock is currently trading 0.30% above its 20-day simple moving average (SMA20), while that difference is up 2.94% for SMA50 and it goes to -59.09% lower than SMA200.
The Vanguard Group, Inc. acquired 0.21 million shares of Galecto Inc having value of about $0.13 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 71342.0 shares in the company valued at close to $44232.04, or have control over 51.91% stake in the company. Galecto Inc (NASDAQ: GLTO) currently have 25.65M outstanding shares and institutions hold larger chunk of about 7.67% of that. Holding of mutual funds in the company is about 5.11% while other institutional holders and individual stake holders have control over 7.88% and 2.56% of the stake respectively.
The stock has a current market capitalization of $16.80M and its 3Y-monthly beta is at 1.12. It has posted earnings per share of -$1.76 in the same period. It has Quick Ratio of 3.75 while making debt-to-equity ratio of 0.01. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GLTO, volatility over the week remained 8.83% while standing at 8.91% over the month.
Analysts are in expectations that Galecto Inc (GLTO) stock would likely to be making an EPS of -$0.34 in the current quarter, while forecast for next quarter EPS is -$0.17 and it is -$1.21 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.46 which is -$0.25 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.55 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 36.63% while it is estimated to increase by 19.48% in next year. EPS is likely to grow at an annualized rate of 47.60% for next 5-years, compared to annual growth of -34.22% made by the stock over the past 5-years.
Analysts at 2 brokerage firms have issued recommendations for the Galecto Inc (GLTO)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 2 Wall Street analysts, 1 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Credit Suisse on April 26, 2021 offering an Outperform rating for the stock and assigned a target price of $12 to it.
