GlycoMimetics’ (GLYC) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of GlycoMimetics (NASDAQ:GLYC) in a report issued on Wednesday, Benzinga reports. The firm currently has a $8.00 price objective on the biotechnology company’s stock.

GLYC has been the topic of several other reports. Capital One Financial reissued an overweight rating on shares of GlycoMimetics in a research report on Thursday, February 22nd. StockNews.com downgraded GlycoMimetics from a hold rating to a sell rating in a report on Thursday, March 14th.

GlycoMimetics Stock Up 11.6 %

Shares of NASDAQ:GLYC opened at $3.18 on Wednesday. The company’s fifty day moving average is $3.00 and its two-hundred day moving average is $2.18. The company has a market cap of $204.95 million, a P/E ratio of -5.05 and a beta of 2.19. GlycoMimetics has a 12-month low of $1.11 and a 12-month high of $3.53.

Institutional Trading of GlycoMimetics

Several hedge funds and other institutional investors have recently modified their holdings of GLYC. Tower Research Capital LLC TRC purchased a new position in GlycoMimetics in the first quarter valued at about $30,000. Acuta Capital Partners LLC bought a new stake in shares of GlycoMimetics in the 3rd quarter valued at approximately $41,000. XTX Topco Ltd acquired a new position in GlycoMimetics in the second quarter worth approximately $52,000. Charles Schwab Investment Management Inc. bought a new position in GlycoMimetics during the fourth quarter valued at approximately $68,000. Finally, Jane Street Group LLC acquired a new stake in GlycoMimetics in the fourth quarter valued at approximately $75,000. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

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.