GlycoMimetics Inc. (GLYC) Now Covered by Analysts at SunTrust Banks Inc.
Stock analysts at SunTrust Banks Inc. initiated coverage on shares of GlycoMimetics Inc. (NASDAQ:GLYC) in a research note issued on Tuesday. The firm set a “buy” rating and a $16.00 price target on the stock. SunTrust Banks Inc.’s price target indicates a potential upside of 153.16% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Tuesday, May 10th. Canaccord Genuity restated a “buy” rating and set a $12.00 target price on shares of GlycoMimetics in a research note on Wednesday, May 4th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. GlycoMimetics has an average rating of “Buy” and a consensus target price of $12.35.
GlycoMimetics (NASDAQ:GLYC) traded down 3.07% during mid-day trading on Tuesday, hitting $6.32. 34,942 shares of the stock were exchanged. The firm’s market capitalization is $145.71 million. GlycoMimetics has a 52 week low of $3.70 and a 52 week high of $9.25. The company’s 50-day moving average price is $7.24 and its 200 day moving average price is $7.18.
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In other GlycoMimetics news, VP Helen M. Thackray sold 4,000 shares of GlycoMimetics stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $7.00, for a total value of $28,000.00. Following the sale, the vice president now directly owns 156,715 shares in the company, valued at approximately $1,097,005. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 52.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in GlycoMimetics during the second quarter worth $115,000. Barclays PLC increased its stake in GlycoMimetics by 77.1% in the second quarter. Barclays PLC now owns 15,816 shares of the company’s stock worth $115,000 after buying an additional 6,885 shares during the period. Schwab Charles Investment Management Inc. acquired a new stake in GlycoMimetics during the second quarter worth $143,000. TFS Capital LLC acquired a new stake in GlycoMimetics during the second quarter worth $149,000. Finally, California State Teachers Retirement System acquired a new stake in GlycoMimetics during the second quarter worth $156,000. Institutional investors own 80.28% of the company’s stock.
GlycoMimetics Company Profile
GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.
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