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

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

Other research analysts have also recently issued reports about the stock. HC Wainwright reissued a “neutral” rating on shares of GlycoMimetics in a research report on Tuesday, June 4th. Capital One Financial cut shares of GlycoMimetics from an “overweight” rating to an “equal weight” rating in a research report on Monday, May 6th.

GlycoMimetics Stock Up 2.6 %

Shares of GLYC stock opened at $0.24 on Thursday. The stock has a market cap of $15.55 million, a price-to-earnings ratio of -0.42 and a beta of 2.19. GlycoMimetics has a fifty-two week low of $0.20 and a fifty-two week high of $3.53. The firm’s 50 day moving average price is $0.28 and its two-hundred day moving average price is $1.73.

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

Insider Buying and Selling at GlycoMimetics

In other GlycoMimetics news, insider Edwin Rock bought 190,000 shares of the stock in a transaction on Thursday, June 20th. The stock was purchased at an average price of $0.25 per share, for a total transaction of $47,500.00. Following the completion of the purchase, the insider now directly owns 565,403 shares in the company, valued at $141,350.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.70% of the stock is owned by insiders.

Hedge Funds Weigh In On GlycoMimetics

Several institutional investors have recently modified their holdings of GLYC. Vanguard Group Inc. grew its position in shares of GlycoMimetics by 14.0% during the first 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 during the last quarter. Advisor OS LLC bought a new position in shares of GlycoMimetics during the fourth quarter worth about $238,000. Finally, MJP Associates Inc. ADV bought a new position in shares of GlycoMimetics during the fourth quarter worth about $238,000. 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.