GlycoMimetics (NASDAQ:GLYC) Now Covered by StockNews.com

Stock analysts at StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) 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.

GlycoMimetics Stock Down 2.8 %

NASDAQ GLYC opened at $0.26 on Friday. GlycoMimetics has a 52 week low of $0.25 and a 52 week high of $3.53. The firm has a market capitalization of $16.95 million, a P/E ratio of -0.45 and a beta of 2.15. The company has a 50-day moving average price of $0.98 and a 200-day moving average price of $2.12.

GlycoMimetics (NASDAQ:GLYC) 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.