GlycoMimetics (NASDAQ:GLYC) Stock Rating Reaffirmed by HC Wainwright

GlycoMimetics (NASDAQ:GLYC)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They currently have a $8.00 price objective on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 166.67% from the stock’s previous close. HC Wainwright also issued estimates for GlycoMimetics’ FY2026 earnings at $0.14 EPS.

Other equities research analysts have also issued reports about the stock. Capital One Financial reiterated an “overweight” rating on shares of GlycoMimetics in a research note on Thursday, February 22nd. StockNews.com lowered shares of GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th.

GlycoMimetics Stock Down 5.7 %

Shares of NASDAQ:GLYC opened at $3.00 on Wednesday. GlycoMimetics has a 12 month low of $1.11 and a 12 month high of $3.53. The company’s fifty day simple moving average is $3.00 and its 200 day simple moving average is $2.18. The firm has a market cap of $193.35 million, a price-to-earnings ratio of -4.76 and a beta of 2.19.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of GlycoMimetics by 15.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 919,355 shares of the biotechnology company’s stock worth $2,170,000 after purchasing an additional 124,861 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of GlycoMimetics during the 4th quarter worth about $81,000. GSA Capital Partners LLP increased its stake in shares of GlycoMimetics by 114.3% during the 4th quarter. GSA Capital Partners LLP now owns 200,993 shares of the biotechnology company’s stock worth $474,000 after purchasing an additional 107,208 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of GlycoMimetics by 14.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 197,200 shares of the biotechnology company’s stock worth $465,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of GlycoMimetics by 4.7% during the 4th quarter. Northern Trust Corp now owns 111,254 shares of the biotechnology company’s stock worth $263,000 after purchasing an additional 5,018 shares during the last quarter. 75.19% of the stock is currently owned by institutional investors and hedge funds.

GlycoMimetics Company Profile

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