HC Wainwright Comments on GlycoMimetics, Inc.’s Q2 2024 Earnings (NASDAQ:GLYC)

GlycoMimetics, Inc. (NASDAQ:GLYC) – Investment analysts at HC Wainwright dropped their Q2 2024 earnings per share estimates for shares of GlycoMimetics in a research note issued to investors on Tuesday, June 4th. HC Wainwright analyst E. White now forecasts that the biotechnology company will post earnings of ($0.15) per share for the quarter, down from their previous forecast of ($0.13). HC Wainwright currently has a “Neutral” rating on the stock. The consensus estimate for GlycoMimetics’ current full-year earnings is ($0.64) per share. HC Wainwright also issued estimates for GlycoMimetics’ Q3 2024 earnings at ($0.13) EPS, Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.54) EPS and FY2026 earnings at ($0.10) EPS.

GLYC has been the topic of several other reports. StockNews.com assumed coverage on GlycoMimetics in a research report on Friday. They issued a “sell” rating on the stock. Capital One Financial lowered shares of GlycoMimetics from an “overweight” rating to an “equal weight” rating in a research report on Monday, May 6th.

GlycoMimetics Stock Performance

GLYC stock opened at $0.26 on Thursday. The stock’s 50 day moving average price is $1.24 and its 200 day moving average price is $2.16. The firm has a market cap of $16.59 million, a P/E ratio of -0.44 and a beta of 2.15. GlycoMimetics has a 1 year low of $0.25 and a 1 year high of $3.53.

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).

Institutional Trading of GlycoMimetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in GlycoMimetics by 14.0% in the first quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after purchasing an additional 340,112 shares during the period. Advisor OS LLC purchased a new stake in shares of GlycoMimetics during the 4th quarter valued at $238,000. MJP Associates Inc. ADV acquired a new stake in shares of GlycoMimetics during the 4th quarter worth $238,000. Finally, Acuta Capital Partners LLC purchased a new position in shares of GlycoMimetics in the 3rd quarter worth $41,000. 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.