GlycoMimetics (NASDAQ:GLYC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYCGet Rating) in a research report issued on Friday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Separately, Zacks Investment Research upgraded GlycoMimetics from a “hold” rating to a “buy” rating and set a $0.75 price target on the stock in a research report on Tuesday, May 3rd.

Shares of GLYC opened at $0.67 on Friday. GlycoMimetics has a 52 week low of $0.54 and a 52 week high of $2.83. The company has a market capitalization of $35.34 million, a price-to-earnings ratio of -0.55 and a beta of 1.93. The stock’s 50-day moving average price is $0.78 and its 200-day moving average price is $1.12.

GlycoMimetics (NASDAQ:GLYCGet Rating) last issued its earnings results on Thursday, April 28th. The biotechnology company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. During the same period in the previous year, the company posted ($0.28) earnings per share. Equities research analysts expect that GlycoMimetics will post -1.26 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. FMR LLC boosted its position in GlycoMimetics by 10.3% during the first quarter. FMR LLC now owns 3,896,740 shares of the biotechnology company’s stock worth $48,553,000 after purchasing an additional 365,096 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of GlycoMimetics by 2.0% during the first quarter. Acadian Asset Management LLC now owns 1,990,087 shares of the biotechnology company’s stock valued at $2,267,000 after acquiring an additional 39,001 shares during the last quarter. Millennium Management LLC raised its holdings in shares of GlycoMimetics by 54.4% during the fourth quarter. Millennium Management LLC now owns 691,713 shares of the biotechnology company’s stock valued at $996,000 after acquiring an additional 243,703 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of GlycoMimetics by 121.0% during the third quarter. Two Sigma Investments LP now owns 498,530 shares of the biotechnology company’s stock valued at $1,092,000 after acquiring an additional 272,931 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of GlycoMimetics by 3.8% during the third quarter. Geode Capital Management LLC now owns 366,301 shares of the biotechnology company’s stock valued at $802,000 after acquiring an additional 13,561 shares during the last quarter. Institutional investors own 56.64% of the company’s stock.

GlycoMimetics Company Profile (Get Rating)

GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in the United States. It is developing uproleselan, an E-selectin inhibitor, which is used in combination with chemotherapy to treat acute myeloid leukemia (AML), as well as in phase 3 trial to treat relapsed/refractory AML.

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