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

Stock analysts at StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note issued on Saturday. The firm set a “sell” rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald began coverage on GlycoMimetics in a research report on Friday. They set an “overweight” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.00.

GlycoMimetics Trading Down 0.5 %

NASDAQ GLYC opened at $0.27 on Friday. GlycoMimetics has a one year low of $0.14 and a one year high of $3.18. The stock has a 50 day moving average price of $0.27 and a 200-day moving average price of $0.26.

GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. On average, sell-side analysts predict that GlycoMimetics will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of GlycoMimetics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. purchased a new stake in GlycoMimetics during the 4th quarter valued at $1,268,000. VR Adviser LLC purchased a new stake in GlycoMimetics in the fourth quarter worth $747,000. Wellington Management Group LLP purchased a new stake in GlycoMimetics in the fourth quarter worth $352,000. Jefferies Financial Group Inc. purchased a new stake in GlycoMimetics in the fourth quarter worth $106,000. Finally, ADAR1 Capital Management LLC increased its stake in GlycoMimetics by 626.1% in the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 286,127 shares during the period. Hedge funds and other institutional investors own 75.19% of the company’s stock.

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.