HC Wainwright Comments on GlycoMimetics, Inc.’s Q1 2024 Earnings (NASDAQ:GLYC)

GlycoMimetics, Inc. (NASDAQ:GLYC) – Equities researchers at HC Wainwright reduced their Q1 2024 earnings per share (EPS) estimates for GlycoMimetics in a note issued to investors on Monday, May 6th. HC Wainwright analyst E. White now anticipates that the biotechnology company will earn ($0.17) per share for the quarter, down from their previous estimate of ($0.14). HC Wainwright has a “Neutral” rating on the stock. The consensus estimate for GlycoMimetics’ current full-year earnings is ($0.54) per share. HC Wainwright also issued estimates for GlycoMimetics’ Q2 2024 earnings at ($0.13) EPS, Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.46) EPS and FY2026 earnings at ($0.09) EPS.

Other analysts have also issued reports about the company. Capital One Financial lowered GlycoMimetics from an “overweight” rating to an “equal weight” rating in a report on Monday. StockNews.com lowered GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th.

GlycoMimetics Price Performance

NASDAQ:GLYC opened at $0.30 on Wednesday. GlycoMimetics has a one year low of $0.27 and a one year high of $3.53. The company has a market cap of $19.23 million, a PE ratio of -0.51 and a beta of 2.30. The firm has a 50-day moving average of $2.37 and a 200-day moving average of $2.32.

GlycoMimetics (NASDAQ:GLYC) last issued its earnings results on Wednesday, March 27th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The firm had revenue of $0.01 million during the quarter.

Hedge Funds Weigh In On GlycoMimetics

A number of hedge funds and other institutional investors have recently modified their holdings of GLYC. MJP Associates Inc. ADV purchased a new stake in shares of GlycoMimetics during the fourth quarter valued at approximately $238,000. Acuta Capital Partners LLC bought a new position in GlycoMimetics in the 3rd quarter valued at $41,000. Finally, Advisor OS LLC bought a new position in GlycoMimetics in the 4th quarter valued at $238,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

GlycoMimetics Company Profile

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.