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

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

GLYC has been the topic of several other research reports. Capital One Financial downgraded GlycoMimetics from an overweight rating to an equal weight rating in a report on Monday, May 6th. HC Wainwright restated a neutral rating on shares of GlycoMimetics in a research note on Tuesday, June 4th.

GlycoMimetics Stock Up 4.3 %

Shares of GLYC opened at $0.29 on Tuesday. The company has a market cap of $18.97 million, a P/E ratio of -0.51 and a beta of 2.19. GlycoMimetics has a fifty-two week low of $0.24 and a fifty-two week high of $3.53. The firm’s 50 day moving average price is $0.31 and its 200 day moving average price is $1.91.

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). Research analysts forecast that GlycoMimetics will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In other GlycoMimetics news, insider Edwin Rock bought 190,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average price of $0.25 per share, with a total value of $47,500.00. Following the completion of the acquisition, the insider now directly owns 565,403 shares of the company’s stock, valued at approximately $141,350.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On GlycoMimetics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MJP Associates Inc. ADV acquired a new stake in GlycoMimetics during the fourth quarter worth approximately $238,000. Advisor OS LLC purchased a new position in shares of GlycoMimetics in the 4th quarter valued at $238,000. Finally, Vanguard Group Inc. raised its stake in GlycoMimetics by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after acquiring an additional 340,112 shares in the last quarter. 75.19% of the stock is owned by institutional investors and hedge funds.

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.