GlycoMimetics (NASDAQ:GLYC) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note released on Monday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

A number of other analysts have also weighed in on GLYC. Capital One Financial lowered shares of GlycoMimetics from an overweight rating to an equal weight rating in a research note 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 $0.30 on Monday. The company’s fifty day moving average is $0.54 and its 200 day moving average is $2.01. GlycoMimetics has a fifty-two week low of $0.24 and a fifty-two week high of $3.53. The stock has a market capitalization of $19.09 million, a PE ratio of -0.51 and a beta of 2.19.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data 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, research analysts forecast that GlycoMimetics will post -0.62 earnings per share for the current year.

Insider Transactions at GlycoMimetics

In other GlycoMimetics news, insider Edwin Rock acquired 190,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average cost of $0.25 per share, with a total value of $47,500.00. Following the transaction, the insider now owns 565,403 shares of the company’s stock, valued at $141,350.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On GlycoMimetics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLYC. Advisor OS LLC acquired a new stake in shares of GlycoMimetics during the fourth quarter worth $238,000. MJP Associates Inc. ADV acquired a new stake in GlycoMimetics in the 4th quarter worth about $238,000. Finally, Vanguard Group Inc. boosted its stake in GlycoMimetics by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after buying an additional 340,112 shares during the last quarter. Hedge funds and other institutional investors own 75.19% of the company’s stock.

About GlycoMimetics

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.