GlycoMimetics, Inc. (NASDAQ:GLYC) Sees Large Decline in Short Interest

GlycoMimetics, Inc. (NASDAQ:GLYCGet Free Report) was the recipient of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 2,090,000 shares, a drop of 10.7% from the May 15th total of 2,340,000 shares. Based on an average daily volume of 1,680,000 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Acuta Capital Partners LLC purchased a new position in shares of GlycoMimetics in the third quarter valued at $41,000. Advisor OS LLC purchased a new position in shares of GlycoMimetics in the fourth quarter valued at $238,000. MJP Associates Inc. ADV purchased a new position in shares of GlycoMimetics in the fourth quarter valued at $238,000. Finally, Vanguard Group Inc. increased its position in GlycoMimetics by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after purchasing an additional 340,112 shares in the last quarter. Hedge funds and other institutional investors own 75.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GLYC. Capital One Financial downgraded GlycoMimetics from an “overweight” rating to an “equal weight” rating in a report on Monday, May 6th. StockNews.com began coverage on GlycoMimetics in a report on Saturday. They issued a “sell” rating for the company. Finally, HC Wainwright reissued a “neutral” rating on shares of GlycoMimetics in a report on Tuesday, June 4th.

View Our Latest Research Report on GlycoMimetics

GlycoMimetics Price Performance

GlycoMimetics stock remained flat at $0.24 during midday trading on Tuesday. The company’s stock had a trading volume of 850,668 shares, compared to its average volume of 1,106,420. GlycoMimetics has a 12 month low of $0.24 and a 12 month high of $3.53. The company has a market capitalization of $15.60 million, a price-to-earnings ratio of -0.42 and a beta of 2.16. The company’s fifty day simple moving average is $0.93 and its 200 day simple moving average is $2.11.

GlycoMimetics (NASDAQ:GLYCGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). As a group, equities analysts predict that GlycoMimetics will post -0.62 EPS for the current year.

GlycoMimetics Company Profile

(Get Free Report)

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.

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