GlycoMimetics (GLYC) Earns Buy Rating from Cowen
GlycoMimetics (NASDAQ:GLYC)‘s stock had its “buy” rating restated by stock analysts at Cowen in a report issued on Wednesday.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of GlycoMimetics from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday, October 6th. SunTrust Banks reissued a “buy” rating and issued a $21.00 price objective on shares of GlycoMimetics in a research note on Wednesday, October 4th. Jefferies Group reissued a “buy” rating and issued a $16.00 price objective on shares of GlycoMimetics in a research note on Thursday, October 26th. Roth Capital initiated coverage on shares of GlycoMimetics in a research note on Monday, October 23rd. They issued a “buy” rating and a $25.00 price objective for the company. Finally, BidaskClub raised shares of GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $17.33.
Shares of GlycoMimetics (NASDAQ:GLYC) traded down $0.07 during trading hours on Wednesday, reaching $14.13. 488,700 shares of the company traded hands, compared to its average volume of 926,415. GlycoMimetics has a fifty-two week low of $3.82 and a fifty-two week high of $16.94.
In other news, SVP Helen M. Thackray sold 2,000 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $13.00, for a total transaction of $26,000.00. Following the completion of the transaction, the senior vice president now owns 150,615 shares of the company’s stock, valued at $1,957,995. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 43.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd raised its stake in GlycoMimetics by 43.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 18,974 shares of the biotechnology company’s stock worth $265,000 after buying an additional 5,767 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in GlycoMimetics by 2.6% during the third quarter. Alyeska Investment Group L.P. now owns 358,962 shares of the biotechnology company’s stock worth $5,022,000 after buying an additional 8,962 shares during the last quarter. Fox Run Management L.L.C. bought a new position in GlycoMimetics during the third quarter worth $173,000. Russell Investments Group Ltd. raised its stake in GlycoMimetics by 172.4% during the second quarter. Russell Investments Group Ltd. now owns 31,379 shares of the biotechnology company’s stock worth $350,000 after buying an additional 19,859 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in GlycoMimetics during the second quarter worth $249,000. 86.81% of the stock is owned by institutional investors and hedge funds.
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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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