GlycoMimetics, Inc. (GLYC) Rating Lowered to Sell at Zacks Investment Research
GlycoMimetics, Inc. (NASDAQ:GLYC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
According to Zacks, “GlycoMimetics, Inc. is a biotechnology company. The company focused on the discovery and development of novel glycomimetic drugs to address diseases in which carbohydrate biology plays a key role. It product pipeline includes GMI-170, GMI-1271, E-selectin and CXCR4 antagonist, GMI-1051 and GMI-1070 at different clinical phases. GlycoMimetics, Inc. is based in Gaithersburg, United States. “
GLYC has been the topic of several other research reports. ValuEngine raised GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC decreased their price target on GlycoMimetics from $16.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, June 6th. Cowen and Company reaffirmed an “outperform” rating on shares of GlycoMimetics in a research note on Sunday, May 28th. Canaccord Genuity reaffirmed a “buy” rating and issued a $12.00 price target on shares of GlycoMimetics in a research note on Friday, May 19th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $13.00 target price on shares of GlycoMimetics in a research note on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $14.20.
Shares of GlycoMimetics (NASDAQ:GLYC) traded up 0.52% during trading on Monday, hitting $11.68. The stock had a trading volume of 470,892 shares. GlycoMimetics has a 12 month low of $3.82 and a 12 month high of $16.94. The company’s 50 day moving average price is $11.56 and its 200 day moving average price is $7.90. The stock’s market cap is $287.80 million.
GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.30) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.07. Equities research analysts expect that GlycoMimetics will post ($1.27) earnings per share for the current fiscal year.
In related news, SVP Helen M. Thackray sold 2,000 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $15.57, for a total transaction of $31,140.00. Following the transaction, the senior vice president now owns 152,615 shares of the company’s stock, valued at approximately $2,376,215.55. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 43.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in GlycoMimetics during the fourth quarter worth about $172,000. Wellington Management Group LLP raised its stake in GlycoMimetics by 14.9% in the first quarter. Wellington Management Group LLP now owns 3,216,751 shares of the biotechnology company’s stock worth $17,467,000 after buying an additional 416,834 shares in the last quarter. Private Capital Advisors Inc. bought a new stake in GlycoMimetics during the second quarter worth about $446,000. Sphera Funds Management LTD. raised its stake in GlycoMimetics by 4.0% in the first quarter. Sphera Funds Management LTD. now owns 775,796 shares of the biotechnology company’s stock worth $4,213,000 after buying an additional 30,000 shares in the last quarter. Finally, Prentiss Smith & Co. Inc. raised its stake in GlycoMimetics by 42.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 10,000 shares of the biotechnology company’s stock worth $112,000 after buying an additional 3,000 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.
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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