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

Research analysts at StockNews.com started coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report released on Friday. The firm set a “sell” rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald initiated coverage on shares of GlycoMimetics in a research report on Friday, March 21st. They set an “overweight” rating on the stock.

GlycoMimetics Trading Down 0.9 %

Shares of NASDAQ:GLYC opened at $0.24 on Friday. The company has a market cap of $15.50 million, a price-to-earnings ratio of -0.41 and a beta of 1.70. GlycoMimetics has a 12 month low of $0.14 and a 12 month high of $0.63. The company has a 50-day moving average price of $0.24 and a 200 day moving average price of $0.27.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.05. As a group, equities analysts forecast that GlycoMimetics will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Caxton Corp bought a new stake in shares of GlycoMimetics during the 4th quarter worth approximately $51,000. ADAR1 Capital Management LLC increased its stake in GlycoMimetics by 626.1% in the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 286,127 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of GlycoMimetics during the fourth quarter worth $106,000. Wellington Management Group LLP purchased a new stake in shares of GlycoMimetics during the fourth quarter valued at $352,000. Finally, VR Adviser LLC bought a new position in shares of GlycoMimetics in the fourth quarter worth about $747,000. Institutional investors own 75.19% of the company’s stock.

GlycoMimetics Company Profile

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.