GlycoMimetics (NASDAQ:GLYC) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report sent to investors on Sunday morning. The firm issued a sell rating on the biotechnology company’s stock.

Other analysts also recently issued reports about the company. Capital One Financial cut shares of GlycoMimetics from an overweight rating to an equal weight rating in a research report on Monday, May 6th. HC Wainwright reaffirmed a neutral rating on shares of GlycoMimetics in a research report on Tuesday, June 4th.

GlycoMimetics Stock Performance

Shares of GLYC opened at $0.26 on Friday. GlycoMimetics has a 52 week low of $0.24 and a 52 week high of $3.53. The stock has a market capitalization of $16.59 million, a price-to-earnings ratio of -0.44 and a beta of 2.15. The stock has a fifty day moving average of $0.75 and a 200-day moving average of $2.07.

GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). As a group, equities analysts forecast that GlycoMimetics will post -0.62 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GLYC. Vanguard Group Inc. lifted its holdings in shares of GlycoMimetics by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after acquiring an additional 340,112 shares during the last quarter. Advisor OS LLC bought a new position in shares of GlycoMimetics during the fourth quarter valued at about $238,000. MJP Associates Inc. ADV bought a new position in shares of GlycoMimetics during the fourth quarter valued at about $238,000. Finally, Acuta Capital Partners LLC purchased a new position in shares of GlycoMimetics during the third quarter valued at about $41,000. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

GlycoMimetics Company Profile

GlycoMimetics, Inc, a biotechnology company, focuses on the discovery and development of therapies for cancers and inflammatory diseases in the United States. It develops uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat acute myeloid leukemia (AML), as well as completed phase 3 trial to treat relapsed/refractory AML.