GlycoMimetics (NASDAQ:GLYC) Shares Set to Reverse Split on Monday, June 16th

GlycoMimetics, Inc. (NASDAQ:GLYC)’s stock is going to reverse split on the morning of Monday, June 16th. The 1-100 reverse split was announced on Thursday, June 5th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, June 13th.

GlycoMimetics Stock Performance

NASDAQ GLYC opened at $0.17 on Thursday. GlycoMimetics has a one year low of $0.14 and a one year high of $0.63. The stock has a 50-day moving average of $0.23 and a 200 day moving average of $0.25. The company has a market capitalization of $10.71 million, a price-to-earnings ratio of -0.36 and a beta of 1.62.

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

Wall Street Analysts Forecast Growth

GLYC has been the subject of a number of recent research reports. Wall Street Zen initiated coverage on GlycoMimetics in a research note on Saturday, May 17th. They set a “sell” rating for the company. Cantor Fitzgerald initiated coverage on GlycoMimetics in a research note on Friday, March 21st. They set an “overweight” rating for the company.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GLYC. Caxton Corp purchased a new position in GlycoMimetics in the 4th quarter worth approximately $51,000. ADAR1 Capital Management LLC lifted its holdings 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 purchasing an additional 286,127 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in GlycoMimetics in the 4th quarter worth approximately $106,000. Wellington Management Group LLP purchased a new position in GlycoMimetics in the 4th quarter worth approximately $352,000. Finally, VR Adviser LLC purchased a new position in GlycoMimetics in the 4th quarter worth approximately $747,000. 75.19% of the stock is currently owned by 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.