GlycoMimetics Sees Unusually Large Options Volume (NASDAQ:GLYC)

GlycoMimetics, Inc. (NASDAQ:GLYC) was the recipient of some unusual options trading on Monday. Traders bought 14,196 put options on the stock. This represents an increase of 830% compared to the typical daily volume of 1,526 put options.

Wall Street Analyst Weigh In

GLYC has been the subject of several research analyst reports. Capital One Financial reaffirmed an “overweight” rating on shares of GlycoMimetics in a report on Thursday, February 22nd. HC Wainwright reiterated a “neutral” rating on shares of GlycoMimetics in a research note on Monday. Finally, StockNews.com downgraded GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th.

Hedge Funds Weigh In On GlycoMimetics

A number of hedge funds have recently modified their holdings of the stock. Acuta Capital Partners LLC purchased a new stake in shares of GlycoMimetics during the third quarter valued at $41,000. Advisor OS LLC acquired a new stake in GlycoMimetics during the 4th quarter worth about $238,000. Finally, MJP Associates Inc. ADV purchased a new stake in GlycoMimetics during the fourth quarter valued at about $238,000. 75.19% of the stock is currently owned by institutional investors and hedge funds.

GlycoMimetics Trading Down 3.2 %

Shares of GlycoMimetics stock opened at $0.31 on Wednesday. GlycoMimetics has a 52 week low of $0.27 and a 52 week high of $3.53. The company’s 50-day moving average price is $2.42 and its two-hundred day moving average price is $2.33. The stock has a market cap of $19.68 million, a PE ratio of -0.53 and a beta of 2.30.

GlycoMimetics (NASDAQ:GLYC) last issued its earnings results on Wednesday, March 27th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $0.01 million for the quarter. On average, equities analysts predict that GlycoMimetics will post -0.54 EPS for the current fiscal year.

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.