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

Equities researchers at StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report released on Sunday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald initiated coverage on shares of GlycoMimetics in a research report on Friday, March 21st. They set an “overweight” rating for the company. One research 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. Based on data from MarketBeat, GlycoMimetics currently has a consensus rating of “Hold”.

GlycoMimetics Stock Performance

Shares of NASDAQ GLYC opened at $0.22 on Friday. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.16. The business has a 50-day simple moving average of $0.27 and a two-hundred day simple moving average of $0.26.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GLYC. Caxton Corp purchased a new position in GlycoMimetics in the 4th quarter worth approximately $51,000. ADAR1 Capital Management LLC raised its position in GlycoMimetics by 626.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 286,127 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in GlycoMimetics during the fourth quarter valued at about $106,000. Wellington Management Group LLP purchased a new position in shares of GlycoMimetics in the 4th quarter worth about $352,000. Finally, VR Adviser LLC bought a new position in shares of GlycoMimetics during the 4th quarter valued at about $747,000. 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.