GlycoMimetics, Inc. (NASDAQ:GLYC) Major Shareholder Sells $13,984.08 in Stock

GlycoMimetics, Inc. (NASDAQ:GLYC) major shareholder Public Equities L.P. Invus sold 63,564 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $0.22, for a total value of $13,984.08. Following the sale, the insider now directly owns 7,146,381 shares in the company, valued at approximately $1,572,203.82. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Public Equities L.P. Invus also recently made the following trade(s):

• On Monday, July 29th, Public Equities L.P. Invus sold 363,949 shares of GlycoMimetics stock. The shares were sold at an average price of $0.24, for a total value of $87,347.76.
• On Friday, July 26th, Public Equities L.P. Invus sold 258,335 shares of GlycoMimetics stock. The stock was sold at an average price of $0.24, for a total value of $62,000.40.

GlycoMimetics Stock Performance

Shares of NASDAQ:GLYC traded down $0.02 during trading on Monday, hitting $0.18. The company’s stock had a trading volume of 997,791 shares, compared to its average volume of 2,236,786. The business has a 50 day moving average price of $0.27 and a two-hundred day moving average price of $1.61. The company has a market capitalization of $11.87 million, a PE ratio of -0.31 and a beta of 2.19. GlycoMimetics, Inc. has a fifty-two week low of $0.17 and a fifty-two week high of $3.53.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly 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). As a group, equities analysts expect that GlycoMimetics, Inc. will post -0.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on GLYC. Capital One Financial downgraded GlycoMimetics from an “overweight” rating to an “equal weight” rating in a research report on Monday, May 6th. StockNews.com initiated coverage on GlycoMimetics in a research report on Friday. They set a “sell” rating on the stock. TD Cowen cut GlycoMimetics from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, HC Wainwright reissued a “neutral” rating on shares of GlycoMimetics in a research note on Tuesday, June 4th.

Hedge Funds Weigh In On GlycoMimetics

A hedge fund recently bought a new stake in GlycoMimetics stock. Advisor OS LLC bought a new position in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 101,000 shares of the biotechnology company’s stock, valued at approximately $238,000. Advisor OS LLC owned approximately 0.16% of GlycoMimetics at the end of the most recent quarter. 75.19% of the stock is currently owned by 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.