HC Wainwright Weighs in on GlycoMimetics, Inc.’s Q1 2024 Earnings (NASDAQ:GLYC)

GlycoMimetics, Inc. (NASDAQ:GLYC) – Analysts at HC Wainwright issued their Q1 2024 earnings per share estimates for GlycoMimetics in a report released on Wednesday, March 27th. HC Wainwright analyst E. White anticipates that the biotechnology company will post earnings of ($0.14) per share for the quarter. HC Wainwright has a “Buy” rating and a $8.00 price objective on the stock. The consensus estimate for GlycoMimetics’ current full-year earnings is ($0.56) per share. HC Wainwright also issued estimates for GlycoMimetics’ Q2 2024 earnings at ($0.15) EPS, Q3 2024 earnings at ($0.13) EPS, Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.57) EPS and FY2025 earnings at ($0.15) EPS.

Several other research firms have also recently weighed in on GLYC. Capital One Financial reissued an “overweight” rating on shares of GlycoMimetics in a research note on Thursday, February 22nd. StockNews.com lowered GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th.

GlycoMimetics Trading Down 5.7 %

GlycoMimetics stock opened at $3.00 on Friday. The stock has a market cap of $193.35 million, a P/E ratio of -5.17 and a beta of 2.19. The company has a 50-day moving average price of $3.00 and a 200 day moving average price of $2.20. GlycoMimetics has a 12-month low of $1.11 and a 12-month high of $3.53.

Institutional Trading of GlycoMimetics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Northern Trust Corp boosted its stake in GlycoMimetics by 4.7% during the fourth quarter. Northern Trust Corp now owns 111,254 shares of the biotechnology company’s stock worth $263,000 after buying an additional 5,018 shares during the period. Charles Schwab Investment Management Inc. acquired a new position in shares of GlycoMimetics in the 4th quarter worth approximately $68,000. Tower Research Capital LLC TRC purchased a new position in shares of GlycoMimetics during the 1st quarter worth approximately $30,000. Jane Street Group LLC acquired a new stake in GlycoMimetics in the 4th quarter valued at approximately $75,000. Finally, Bridgeway Capital Management LLC raised its position in GlycoMimetics by 14.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 197,200 shares of the biotechnology company’s stock valued at $465,000 after purchasing an additional 25,000 shares during the period. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

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.