GlycoMimetics (NASDAQ:GLYC) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note released on Wednesday. The firm issued a sell rating on the biotechnology company’s stock.

A number of other research firms have also recently issued reports on GLYC. HC Wainwright reissued a neutral rating on shares of GlycoMimetics in a research report on Monday, May 6th. Capital One Financial cut GlycoMimetics from an overweight rating to an equal weight rating in a research report on Monday, May 6th.

GlycoMimetics Trading Up 2.5 %

Shares of GLYC stock opened at $0.28 on Wednesday. GlycoMimetics has a 1-year low of $0.26 and a 1-year high of $3.53. The company has a market capitalization of $18.20 million, a price-to-earnings ratio of -0.49 and a beta of 2.30. The stock’s fifty day simple moving average is $1.91 and its 200-day simple moving average is $2.26.

GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings results on Wednesday, March 27th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $0.01 million for the quarter. On average, sell-side analysts predict that GlycoMimetics will post -0.63 EPS for the current year.

Institutional Trading of GlycoMimetics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Acuta Capital Partners LLC acquired a new stake in shares of GlycoMimetics in the third quarter worth about $41,000. Advisor OS LLC acquired a new stake in shares of GlycoMimetics in the fourth quarter worth about $238,000. MJP Associates Inc. ADV acquired a new stake in shares of GlycoMimetics in the fourth quarter worth about $238,000. Finally, Vanguard Group Inc. lifted its position in shares of GlycoMimetics by 14.0% in the first quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after buying an additional 340,112 shares during the last quarter. Institutional investors and hedge funds own 75.19% of the company’s stock.

About GlycoMimetics

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.