GlycoMimetics (NASDAQ:GLYC) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report published on Monday. The brokerage issued a sell rating on the biotechnology company’s stock.

Other analysts also recently issued research reports about the company. HC Wainwright restated a neutral rating on shares of GlycoMimetics in a report on Tuesday, June 4th. Capital One Financial downgraded GlycoMimetics from an overweight rating to an equal weight rating in a report on Monday, May 6th.

GlycoMimetics Stock Performance

Shares of NASDAQ GLYC opened at $0.27 on Monday. GlycoMimetics has a twelve month low of $0.24 and a twelve month high of $3.53. The company has a market capitalization of $17.61 million, a price-to-earnings ratio of -0.47 and a beta of 2.19. The firm has a 50-day moving average of $0.45 and a two-hundred day moving average of $1.97.

GlycoMimetics (NASDAQ:GLYC) last issued its quarterly 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). As a group, research analysts predict that GlycoMimetics will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Edwin Rock acquired 190,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average price of $0.25 per share, for a total transaction of $47,500.00. Following the completion of the acquisition, the insider now owns 565,403 shares of the company’s stock, valued at approximately $141,350.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GlycoMimetics

A number of large investors have recently added to or reduced their stakes in the stock. Advisor OS LLC bought a new stake in shares of GlycoMimetics in the fourth quarter valued at approximately $238,000. MJP Associates Inc. ADV bought a new stake in shares of GlycoMimetics in the fourth quarter valued at approximately $238,000. Finally, Vanguard Group Inc. boosted 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 valued at $8,286,000 after acquiring an additional 340,112 shares during the period. Institutional investors own 75.19% of the company’s stock.

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.