Q1 2024 Earnings Estimate for GlycoMimetics, Inc. Issued By HC Wainwright (NASDAQ:GLYC)

GlycoMimetics, Inc. (NASDAQ:GLYC) – Research analysts at HC Wainwright decreased their Q1 2024 earnings per share (EPS) estimates for shares of GlycoMimetics in a report issued on Monday, May 6th. HC Wainwright analyst E. White now expects that the biotechnology company will post earnings of ($0.17) per share for the quarter, down from their previous estimate of ($0.14). HC Wainwright currently has a “Neutral” rating on the stock. The consensus estimate for GlycoMimetics’ current full-year earnings is ($0.54) per share. HC Wainwright also issued estimates for GlycoMimetics’ 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.

A number of other brokerages have also recently weighed in on GLYC. Capital One Financial cut GlycoMimetics from an “overweight” rating to an “equal weight” rating in a research report on Monday. StockNews.com lowered GlycoMimetics from a “hold” rating to a “sell” rating in a report on Thursday, March 14th.

GlycoMimetics Trading Down 2.3 %

Shares of NASDAQ:GLYC opened at $0.30 on Wednesday. The stock has a market capitalization of $19.23 million, a PE ratio of -0.51 and a beta of 2.30. GlycoMimetics has a 1 year low of $0.27 and a 1 year high of $3.53. The firm has a fifty day moving average price of $2.37 and a 200 day moving average price of $2.32.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings results on Wednesday, March 27th. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. The business had revenue of $0.01 million for the quarter.

Institutional Investors Weigh In On GlycoMimetics

Several hedge funds and other institutional investors have recently made changes to their positions in GLYC. MJP Associates Inc. ADV acquired a new stake in GlycoMimetics in the 4th quarter valued at approximately $238,000. Acuta Capital Partners LLC bought a new position in GlycoMimetics during the third quarter worth $41,000. Finally, Advisor OS LLC acquired a new position in GlycoMimetics during the 4th quarter valued at $238,000. 75.19% of the stock is owned by institutional investors and hedge funds.

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.