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

Stock analysts at StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report issued to clients and investors on Monday. The brokerage set a “sell” rating on the biotechnology company’s stock.

GLYC has been the topic of several other reports. Capital One Financial downgraded shares of GlycoMimetics from an “overweight” rating to an “equal weight” rating in a research report on Monday, May 6th. HC Wainwright reiterated a “neutral” rating on shares of GlycoMimetics in a research report on Tuesday, June 4th.

GlycoMimetics Trading Down 9.2 %

GLYC opened at $0.27 on Monday. The company’s 50 day moving average is $0.51 and its 200-day moving average is $2.00. GlycoMimetics has a 1-year low of $0.24 and a 1-year high of $3.53. The company has a market cap of $17.33 million, a P/E ratio of -0.46 and a beta of 2.19.

GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). On average, equities analysts forecast that GlycoMimetics will post -0.62 EPS for the current year.

Insider Buying and Selling

In other news, insider Edwin Rock acquired 190,000 shares of GlycoMimetics stock in a transaction dated Thursday, June 20th. The shares were bought at an average cost of $0.25 per share, with a total value of $47,500.00. Following the purchase, the insider now owns 565,403 shares in the company, valued at approximately $141,350.75. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 8.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GlycoMimetics

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of GlycoMimetics by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after purchasing an additional 340,112 shares during the last quarter. Advisor OS LLC bought a new stake in shares of GlycoMimetics in the 4th quarter valued at $238,000. Finally, MJP Associates Inc. ADV bought a new stake in shares of GlycoMimetics in the 4th quarter valued at $238,000. 75.19% of the stock is owned by 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.