GlycoMimetics Sees Unusually Large Options Volume (GLYC)
GlycoMimetics, Inc. (NASDAQ:GLYC) was the recipient of some unusual options trading on Tuesday. Investors bought 3,276 call options on the company. This represents an increase of 2,542% compared to the typical daily volume of 124 call options.
A number of brokerages have commented on GLYC. Stifel Nicolaus reiterated a “buy” rating and issued a $23.00 price objective on shares of GlycoMimetics in a research report on Thursday. SunTrust Banks increased their price objective on GlycoMimetics to $32.00 and gave the company a “buy” rating in a research report on Tuesday. BidaskClub upgraded GlycoMimetics from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. Cowen reiterated a “buy” rating on shares of GlycoMimetics in a research report on Wednesday, December 6th. Finally, Zacks Investment Research upgraded GlycoMimetics from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Friday, October 6th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $20.17.
GlycoMimetics (NASDAQ GLYC) opened at $16.01 on Friday. GlycoMimetics has a 12-month low of $3.82 and a 12-month high of $18.25.
In other GlycoMimetics news, SVP Helen M. Thackray sold 2,000 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $15.01, for a total value of $30,020.00. Following the transaction, the senior vice president now directly owns 148,615 shares in the company, valued at approximately $2,230,711.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 43.80% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd boosted its position in shares of GlycoMimetics by 43.7% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 18,974 shares of the biotechnology company’s stock worth $265,000 after purchasing an additional 5,767 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in shares of GlycoMimetics by 2.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 358,962 shares of the biotechnology company’s stock worth $5,022,000 after purchasing an additional 8,962 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of GlycoMimetics in the 3rd quarter worth $173,000. Russell Investments Group Ltd. boosted its position in shares of GlycoMimetics by 172.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 31,379 shares of the biotechnology company’s stock worth $350,000 after purchasing an additional 19,859 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of GlycoMimetics in the 2nd quarter worth $249,000. Institutional investors and hedge funds own 86.81% 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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