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

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

Separately, Cantor Fitzgerald assumed coverage on shares of GlycoMimetics in a research report on Friday, March 21st. They set an “overweight” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

GlycoMimetics Price Performance

GLYC stock opened at $0.23 on Tuesday. The firm has a 50 day simple moving average of $0.25 and a two-hundred day simple moving average of $0.26. GlycoMimetics has a one year low of $0.14 and a one year high of $2.39.

GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.05. As a group, sell-side analysts expect that GlycoMimetics will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Caxton Corp purchased a new stake in GlycoMimetics during the 4th quarter valued at $51,000. ADAR1 Capital Management LLC raised its stake in shares of GlycoMimetics by 626.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after acquiring an additional 286,127 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of GlycoMimetics during the fourth quarter worth about $106,000. Wellington Management Group LLP purchased a new stake in shares of GlycoMimetics during the fourth quarter worth about $352,000. Finally, VR Adviser LLC bought a new stake in shares of GlycoMimetics in the fourth quarter worth about $747,000. 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.