StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC – Free Report) in a research report sent to investors on Friday. The firm issued a sell rating on the biotechnology company’s stock.
Other analysts have also issued research reports about the company. Capital One Financial lowered GlycoMimetics from an overweight rating to an equal weight rating in a research note on Monday, May 6th. HC Wainwright restated a neutral rating on shares of GlycoMimetics in a research note on Tuesday, June 4th. Finally, TD Cowen lowered GlycoMimetics from a buy rating to a hold rating in a research note on Friday, July 26th.
Check Out Our Latest Analysis on GLYC
GlycoMimetics Stock Performance
GlycoMimetics (NASDAQ:GLYC – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). On average, research analysts forecast that GlycoMimetics will post -0.61 earnings per share for the current year.
Insider Transactions at GlycoMimetics
In other news, major shareholder Public Equities L.P. Invus sold 258,335 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $0.24, for a total transaction of $62,000.40. Following the transaction, the insider now owns 8,330,729 shares in the company, valued at $1,999,374.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Public Equities L.P. Invus sold 258,335 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $0.24, for a total transaction of $62,000.40. Following the sale, the insider now owns 8,330,729 shares of the company’s stock, valued at $1,999,374.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Edwin Rock purchased 190,000 shares of GlycoMimetics stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average cost 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 $141,350.75. The disclosure for this purchase can be found here. 8.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On GlycoMimetics
A hedge fund recently raised its stake in GlycoMimetics stock. Vanguard Group Inc. increased its stake in shares of GlycoMimetics, Inc. (NASDAQ:GLYC – Free Report) by 14.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,761,981 shares of the biotechnology company’s stock after buying an additional 340,112 shares during the quarter. Vanguard Group Inc. owned about 4.29% of GlycoMimetics worth $8,286,000 at the end of the most recent reporting period. 75.19% of the stock is owned by hedge funds and other institutional investors.
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.
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