StockNews.com Begins Coverage on GlycoMimetics (NASDAQ:GLYC)

StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note issued to investors on Monday. The firm set a “sell” rating on the biotechnology company’s stock.

Several other equities research analysts have also issued reports on GLYC. HC Wainwright reiterated a “neutral” rating on shares of GlycoMimetics in a research report on Tuesday, June 4th. Capital One Financial cut shares of GlycoMimetics from an “overweight” rating to an “equal weight” rating in a research report on Monday, May 6th.

GlycoMimetics Stock Performance

GlycoMimetics stock opened at $0.28 on Monday. The stock has a market cap of $18.15 million, a P/E ratio of -0.49 and a beta of 2.15. GlycoMimetics has a fifty-two week low of $0.24 and a fifty-two week high of $3.53. The firm’s fifty day moving average price is $0.57 and its 200-day moving average price is $2.02.

GlycoMimetics (NASDAQ:GLYC) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Sell-side analysts predict that GlycoMimetics will post -0.62 earnings per share for the current year.

Insider Activity

In other news, insider Edwin Rock bought 190,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was bought at an average price of $0.25 per share, for a total transaction of $47,500.00. Following the transaction, the insider now directly owns 565,403 shares of the company’s stock, valued at approximately $141,350.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On GlycoMimetics

A number of large investors have recently bought and sold shares of GLYC. Advisor OS LLC bought a new position in shares of GlycoMimetics in the fourth quarter worth approximately $238,000. MJP Associates Inc. ADV bought a new position in shares of GlycoMimetics during the fourth quarter valued at about $238,000. Finally, Vanguard Group Inc. boosted its holdings in shares of GlycoMimetics by 14.0% during the first quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after purchasing an additional 340,112 shares during the period. 75.19% of the stock is owned by hedge funds and other institutional investors.

GlycoMimetics Company Profile

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