GlycoMimetics (NASDAQ:GLYC) Earns Neutral Rating from HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of GlycoMimetics (NASDAQ:GLYC) in a report published on Monday, MarketBeat.com reports. HC Wainwright also issued estimates for GlycoMimetics’ Q1 2024 earnings at ($0.17) EPS, 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.

Several other equities research analysts have also commented on the company. Capital One Financial restated an overweight rating on shares of GlycoMimetics in a research note on Thursday, February 22nd. StockNews.com lowered shares of GlycoMimetics from a hold rating to a sell rating in a report on Thursday, March 14th.

GlycoMimetics Stock Performance

GLYC opened at $0.30 on Monday. GlycoMimetics has a 1 year low of $0.27 and a 1 year high of $3.53. The company’s 50 day simple moving average is $2.37 and its 200 day simple moving average is $2.32. The stock has a market capitalization of $19.23 million, a PE ratio of -0.51 and a beta of 2.30.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings data on Wednesday, March 27th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $0.01 million for the quarter. As a group, sell-side analysts expect that GlycoMimetics will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GlycoMimetics

Large investors have recently modified their holdings of the stock. Advisor OS LLC purchased a new position in GlycoMimetics in the 4th quarter worth approximately $238,000. MJP Associates Inc. ADV acquired a new stake in GlycoMimetics during the 4th quarter valued at $238,000. Finally, Acuta Capital Partners LLC purchased a new stake in GlycoMimetics during the 3rd quarter worth $41,000. Institutional investors and hedge funds own 75.19% of the company’s stock.

About GlycoMimetics

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.