GlycoMimetics (NASDAQ:GLYC) Research Coverage Started at StockNews.com

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

GlycoMimetics Trading Down 3.0 %

GLYC opened at $0.30 on Tuesday. GlycoMimetics has a one year low of $0.14 and a one year high of $3.25. The business’s 50-day simple moving average is $0.26 and its 200-day simple moving average is $0.24.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. On average, analysts expect that GlycoMimetics will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On GlycoMimetics

Several hedge funds have recently bought and sold shares of GLYC. Wellington Management Group LLP acquired a new stake in shares of GlycoMimetics during the fourth quarter worth $352,000. ADAR1 Capital Management LLC increased its holdings in GlycoMimetics by 626.1% in the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after buying an additional 286,127 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in GlycoMimetics in the fourth quarter valued at about $1,268,000. Caxton Corp bought a new stake in GlycoMimetics in the fourth quarter valued at about $51,000. Finally, Jefferies Financial Group Inc. acquired a new position in GlycoMimetics in the fourth quarter valued at approximately $106,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

About GlycoMimetics

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.