GlycoMimetics (NASDAQ:GLYC) Receives New Coverage from Analysts at StockNews.com

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

Several other equities analysts have also issued reports on the company. Capital One Financial lowered GlycoMimetics from an overweight rating to an equal weight rating in a research report on Monday, May 6th. HC Wainwright reissued a neutral rating on shares of GlycoMimetics in a research report on Tuesday, June 4th.

GlycoMimetics Stock Performance

Shares of GlycoMimetics stock opened at $0.29 on Tuesday. GlycoMimetics has a 52-week low of $0.24 and a 52-week high of $3.53. The stock has a market capitalization of $18.58 million, a price-to-earnings ratio of -0.50 and a beta of 2.19. The company’s 50 day moving average price is $0.28 and its 200-day moving average price is $1.89.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). As a group, equities research analysts forecast that GlycoMimetics will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Edwin Rock acquired 190,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average cost of $0.25 per share, with a total value of $47,500.00. Following the acquisition, the insider now directly owns 565,403 shares of the company’s stock, valued at $141,350.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. 8.70% of the stock is owned by insiders.

Institutional Trading of GlycoMimetics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor OS LLC bought a new position in GlycoMimetics in the 4th quarter valued at $238,000. MJP Associates Inc. ADV bought a new position in GlycoMimetics in the 4th quarter valued at $238,000. Finally, Vanguard Group Inc. grew its position in 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 acquiring an additional 340,112 shares during the last quarter. 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.