Stock analysts at StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC – Get Free Report) in a research note issued on Saturday. The brokerage set a “sell” rating on the biotechnology company’s stock.
A number of other research analysts also recently issued reports on GLYC. Capital One Financial downgraded 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.
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GlycoMimetics Stock Down 2.8 %
GlycoMimetics (NASDAQ:GLYC – Get Free Report) last released 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 research analysts anticipate that GlycoMimetics will post -0.62 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of GLYC. Vanguard Group Inc. boosted its position in shares of GlycoMimetics by 14.0% during 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. Advisor OS LLC bought a new position in shares of GlycoMimetics during the 4th quarter valued at approximately $238,000. MJP Associates Inc. ADV bought a new position in shares of GlycoMimetics during the 4th quarter valued at approximately $238,000. Finally, Acuta Capital Partners LLC bought a new position in shares of GlycoMimetics during the 3rd quarter valued at approximately $41,000. 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.
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