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

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

GlycoMimetics Stock Performance

Shares of NASDAQ:GLYC opened at $0.27 on Thursday. The firm has a fifty day moving average price of $0.27 and a 200 day moving average price of $0.25. GlycoMimetics has a fifty-two week low of $0.14 and a fifty-two week high of $3.18.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. Research analysts expect that GlycoMimetics will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GlycoMimetics

Several institutional investors have recently bought and sold shares of the business. Caxton Corp bought a new position in GlycoMimetics during the fourth quarter valued at $51,000. ADAR1 Capital Management LLC lifted 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 during the last quarter. Jefferies Financial Group Inc. bought a new position in GlycoMimetics during the fourth quarter valued at $106,000. Wellington Management Group LLP bought a new position in GlycoMimetics during the fourth quarter valued at $352,000. Finally, VR Adviser LLC bought a new position in GlycoMimetics during the fourth quarter valued at $747,000. Institutional investors own 75.19% of the company’s stock.

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.