GlycoMimetics (NASDAQ:GLYC) Now Covered by StockNews.com

StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report released on Monday. The brokerage issued a sell rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald initiated coverage on GlycoMimetics in a research note on Friday, March 21st. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

GlycoMimetics Price Performance

Shares of NASDAQ:GLYC opened at $0.18 on Monday. The firm has a fifty day moving average of $0.26 and a two-hundred day moving average of $0.26. GlycoMimetics has a 12-month low of $0.14 and a 12-month high of $2.81.

GlycoMimetics (NASDAQ:GLYC) last released its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. On average, equities analysts predict that GlycoMimetics will post -0.08 EPS for the current year.

Institutional Investors Weigh In On GlycoMimetics

A number of large investors have recently bought and sold shares of GLYC. Caxton Corp acquired a new stake in shares of GlycoMimetics in the fourth quarter worth about $51,000. ADAR1 Capital Management LLC raised its stake in shares of 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 acquiring an additional 286,127 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in GlycoMimetics in the 4th quarter worth approximately $106,000. Wellington Management Group LLP bought a new stake in GlycoMimetics during the fourth quarter worth approximately $352,000. Finally, VR Adviser LLC acquired a new position in GlycoMimetics during the fourth quarter valued at approximately $747,000. 75.19% of the stock is currently 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.