H.C. Wainwright downgraded Galecto to Neutral from Buy without a price target after the company decided to explore strategic alternatives to maximize shareholder value. The firm says there can be no assurance that exploration of strategic alternatives will result in any agreements or transactions, or, if completed, that any agreements or transactions will be successful or on attractive terms.
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Read More on GLTO:
- Galecto Announces Plans to Explore Strategic Alternatives
- Galecto to explore strategic alternatives, reduce workforce by 70%
- Galecto to Present at Investor Conferences in September
- Galecto price target lowered to $2 from $12 at H.C. Wainwright
- SVB downgrades Galecto after ‘disappointing’ GB0139 results
