GlycoMimetics (NASDAQ:GLYC) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a note issued to investors on Saturday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald assumed coverage on GlycoMimetics in a research note on Friday. They set an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.00.

GlycoMimetics Trading Down 0.5 %

GLYC stock opened at $0.27 on Friday. The business’s fifty day simple moving average is $0.27 and its two-hundred day simple moving average is $0.26. GlycoMimetics has a twelve month low of $0.14 and a twelve month high of $3.18.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. Analysts forecast that GlycoMimetics will post -0.08 EPS for the current year.

Institutional Investors Weigh In On GlycoMimetics

A number of institutional investors have recently added to or reduced their stakes in GLYC. Wellington Management Group LLP bought a new stake in GlycoMimetics during the fourth quarter valued at about $352,000. ADAR1 Capital Management LLC boosted its position in GlycoMimetics by 626.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 286,127 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in GlycoMimetics during the fourth quarter valued at about $1,268,000. Caxton Corp bought a new stake in GlycoMimetics during the fourth quarter valued at about $51,000. Finally, Jefferies Financial Group Inc. bought a new stake in GlycoMimetics during the fourth quarter valued at about $106,000. Institutional investors own 75.19% of the company’s stock.

About GlycoMimetics

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.