GlycoMimetics (NASDAQ:GLYC) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

GlycoMimetics, Inc. (NASDAQ:GLYC)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.27 and traded as low as $0.25. GlycoMimetics shares last traded at $0.25, with a volume of 173,587 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald began coverage on GlycoMimetics in a research report on Friday, March 21st. They set an “overweight” rating on the stock. StockNews.com began coverage on GlycoMimetics in a report on Saturday. They set a “sell” rating for the company.

GlycoMimetics Stock Performance

The firm has a fifty day moving average price of $0.24 and a 200 day moving average price of $0.27. The stock has a market cap of $15.93 million, a PE ratio of -0.42 and a beta of 1.70.

GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings data on Wednesday, May 14th. The biotechnology company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. On average, equities research analysts forecast that GlycoMimetics, Inc. will post -0.08 earnings per share for the current year.

Institutional Trading of GlycoMimetics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jefferies Financial Group Inc. raised its stake in GlycoMimetics by 38.0% in the 1st quarter. Jefferies Financial Group Inc. now owns 585,000 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 161,223 shares during the last quarter. Caxton Corp purchased a new position in GlycoMimetics in the 4th quarter worth $51,000. ADAR1 Capital Management LLC raised its stake in GlycoMimetics by 626.1% in the 4th quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after acquiring an additional 286,127 shares during the last quarter. Wellington Management Group LLP purchased a new position in GlycoMimetics in the 4th quarter worth $352,000. Finally, VR Adviser LLC purchased a new position in GlycoMimetics in the 4th quarter worth $747,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

About GlycoMimetics

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.