GlycoMimetics Target of Unusually Large Options Trading (NASDAQ:GLYC)

GlycoMimetics, Inc. (NASDAQ:GLYC) was the recipient of unusually large options trading on Monday. Stock traders acquired 14,196 put options on the company. This is an increase of approximately 830% compared to the typical volume of 1,526 put options.

GlycoMimetics Trading Down 82.8 %

Shares of GLYC opened at $0.32 on Tuesday. GlycoMimetics has a twelve month low of $0.31 and a twelve month high of $3.53. The company has a market cap of $20.33 million, a P/E ratio of -0.54 and a beta of 2.30. The company’s fifty day simple moving average is $2.48 and its 200-day simple moving average is $2.34.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings results on Wednesday, March 27th. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. The company had revenue of $0.01 million during the quarter. Analysts predict that GlycoMimetics will post -0.54 earnings per share for the current fiscal year.

Institutional Trading of GlycoMimetics

A number of institutional investors have recently modified their holdings of GLYC. MJP Associates Inc. ADV acquired a new stake in GlycoMimetics in the 4th quarter worth approximately $238,000. Acuta Capital Partners LLC purchased a new position in shares of GlycoMimetics during the 3rd quarter valued at approximately $41,000. Finally, Advisor OS LLC purchased a new position in shares of GlycoMimetics during the 4th quarter valued at approximately $238,000. 75.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GLYC has been the subject of a number of recent analyst reports. Capital One Financial reaffirmed an “overweight” rating on shares of GlycoMimetics in a research note on Thursday, February 22nd. StockNews.com lowered GlycoMimetics from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Finally, HC Wainwright restated a “neutral” rating on shares of GlycoMimetics in a research report on Monday.

About GlycoMimetics

GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of glycobiology-based therapies for cancers, including acute myeloid leukemia (AML) and inflammatory diseases with unmet needs in the United States. It is developing uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat AML, as well as in phase 3 trial to treat relapsed/refractory AML.