GlycoMimetics (NASDAQ:GLYC) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note published on Friday, MarketBeat reports. The brokerage issued an overweight rating on the biotechnology company’s stock.

Separately, StockNews.com initiated coverage on shares of GlycoMimetics in a research note on Friday, March 14th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, GlycoMimetics has a consensus rating of “Hold” and a consensus target price of $8.00.

GlycoMimetics Stock Down 0.5 %

NASDAQ GLYC opened at $0.27 on Friday. GlycoMimetics has a 52-week low of $0.14 and a 52-week high of $3.18. The company has a fifty day moving average of $0.27 and a 200-day moving average of $0.26.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. On average, analysts anticipate that GlycoMimetics will post -0.08 earnings per share for the current year.

Institutional Trading of GlycoMimetics

Several hedge funds have recently added to or reduced their stakes in GLYC. Wellington Management Group LLP bought a new stake in GlycoMimetics in the fourth quarter worth $352,000. ADAR1 Capital Management LLC lifted its stake in GlycoMimetics by 626.1% in the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 286,127 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of GlycoMimetics in the fourth quarter valued at about $1,268,000. Caxton Corp purchased a new position in shares of GlycoMimetics in the fourth quarter valued at about $51,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of GlycoMimetics in the fourth quarter valued at about $106,000. 75.19% of the stock is owned by institutional investors.

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.