GlycoMimetics (NASDAQ:GLYC) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a note issued to investors on Sunday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Several other research analysts have also issued reports on the company. HC Wainwright reaffirmed a “neutral” rating on shares of GlycoMimetics in a research report on Tuesday, June 4th. Capital One Financial downgraded GlycoMimetics from an “overweight” rating to an “equal weight” rating in a research report on Monday, May 6th.

GlycoMimetics Trading Up 2.9 %

NASDAQ:GLYC opened at $0.26 on Friday. The stock’s 50-day moving average is $0.75 and its 200-day moving average is $2.07. GlycoMimetics has a 1-year low of $0.24 and a 1-year high of $3.53. The stock has a market cap of $16.59 million, a P/E ratio of -0.44 and a beta of 2.15.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). As a group, equities analysts forecast that GlycoMimetics will post -0.62 EPS for the current year.

Institutional Trading of GlycoMimetics

A number of large investors have recently bought and sold shares of the business. Acuta Capital Partners LLC bought a new stake in shares of GlycoMimetics during the 3rd quarter valued at about $41,000. Advisor OS LLC acquired a new stake in shares of GlycoMimetics during the 4th quarter worth approximately $238,000. MJP Associates Inc. ADV bought a new stake in shares of GlycoMimetics in the 4th quarter valued at $238,000. Finally, Vanguard Group Inc. increased its stake in shares of GlycoMimetics by 14.0% in 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 in the last quarter. 75.19% of the stock is currently owned by institutional investors and hedge funds.

GlycoMimetics Company Profile

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.