GlycoMimetics (NASDAQ:GLYC) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report published on Friday, MarketBeat.com reports. The firm issued an overweight rating on the biotechnology company’s stock.

Separately, StockNews.com initiated coverage on shares of GlycoMimetics in a research note on Friday, March 14th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.00.

GlycoMimetics Stock Performance

Shares of GLYC stock opened at $0.27 on Friday. The company has a 50 day moving average of $0.27 and a 200-day moving average of $0.26. GlycoMimetics has a 12-month low of $0.14 and a 12-month high of $3.18.

GlycoMimetics (NASDAQ:GLYC) last issued its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.05. On average, sell-side analysts forecast that GlycoMimetics will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Caxton Corp bought a new position in GlycoMimetics in the 4th quarter valued at $51,000. ADAR1 Capital Management LLC boosted its holdings in GlycoMimetics by 626.1% in the 4th 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 during the period. Jefferies Financial Group Inc. bought a new position in GlycoMimetics in the 4th quarter valued at $106,000. Wellington Management Group LLP bought a new position in GlycoMimetics in the 4th quarter valued at $352,000. Finally, VR Adviser LLC bought a new position in GlycoMimetics in the 4th quarter valued at $747,000. 75.19% of the stock is owned by institutional investors.

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.