GlycoMimetics (NASDAQ:GLYC) Cut to “Equal Weight” at Capital One Financial

Capital One Financial lowered shares of GlycoMimetics (NASDAQ:GLYC) from an overweight rating to an equal weight rating in a research note issued to investors on Monday morning, Zacks.com reports.

GLYC has been the subject of several other research reports. StockNews.com downgraded shares of GlycoMimetics from a hold rating to a sell rating in a research report on Thursday, March 14th. HC Wainwright reaffirmed a neutral rating on shares of GlycoMimetics in a report on Monday.

GlycoMimetics Price Performance

GLYC opened at $0.30 on Monday. The business’s 50-day moving average price is $2.37 and its two-hundred day moving average price is $2.32. GlycoMimetics has a 1 year low of $0.27 and a 1 year high of $3.53. The company has a market capitalization of $19.23 million, a price-to-earnings ratio of -0.51 and a beta of 2.30.

GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Wednesday, March 27th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $0.01 million for the quarter. Sell-side analysts anticipate that GlycoMimetics will post -0.54 earnings per share for the current fiscal year.

Institutional Trading of GlycoMimetics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisor OS LLC purchased a new stake in shares of GlycoMimetics in the 4th quarter valued at $238,000. MJP Associates Inc. ADV purchased a new stake in shares of GlycoMimetics in the fourth quarter valued at about $238,000. Finally, Acuta Capital Partners LLC purchased a new stake in GlycoMimetics in the third quarter valued at $41,000. 75.19% of the stock is currently owned by institutional investors.

About GlycoMimetics

GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of glycobiology-based therapies for cancers, including acute myeloid leukemia (AML) and inflammatory diseases with unmet needs in the United States. It is developing uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat AML, as well as in phase 3 trial to treat relapsed/refractory AML.