GlycoMimetics (NASDAQ:GLYC) Now Covered by StockNews.com

Equities research analysts at StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a note issued to investors on Wednesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald started coverage on GlycoMimetics in a research report on Friday, March 21st. They issued an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, GlycoMimetics has an average rating of “Hold”.

GlycoMimetics Trading Up 5.0 %

Shares of NASDAQ:GLYC opened at $0.25 on Wednesday. The company has a market capitalization of $16.17 million, a price-to-earnings ratio of -0.42 and a beta of 1.74. GlycoMimetics has a 12-month low of $0.14 and a 12-month high of $1.93. The business has a 50-day moving average price of $0.24 and a 200 day moving average price of $0.27.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. As a group, equities research analysts predict that GlycoMimetics will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of GlycoMimetics

Institutional investors and hedge funds have recently bought and sold shares of the business. Caxton Corp purchased a new position in shares of GlycoMimetics in the fourth quarter valued at approximately $51,000. ADAR1 Capital Management LLC lifted its holdings in GlycoMimetics by 626.1% during the 4th quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after buying an additional 286,127 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in GlycoMimetics in the 4th quarter valued at approximately $106,000. Wellington Management Group LLP acquired a new position in shares of GlycoMimetics in the fourth quarter worth $352,000. Finally, VR Adviser LLC purchased a new stake in shares of GlycoMimetics during the fourth quarter worth $747,000. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

GlycoMimetics Company Profile

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