GlycoMimetics (NASDAQ:GLYC) Earns Sell Rating from Analysts at StockNews.com

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

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

GlycoMimetics Price Performance

Shares of GLYC stock opened at $0.25 on Friday. The stock’s fifty day moving average price is $0.24 and its 200 day moving average price is $0.27. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $0.63. The company has a market cap of $15.94 million, a price-to-earnings ratio of -0.54 and a beta of 1.70.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Wednesday, May 14th. The biotechnology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. As a group, equities research analysts anticipate that GlycoMimetics will post -0.08 earnings per share for the current year.

Institutional Trading of GlycoMimetics

Large investors have recently modified their holdings of the business. Caxton Corp purchased a new position in GlycoMimetics during the fourth quarter worth about $51,000. ADAR1 Capital Management LLC raised its stake in shares of 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 during the period. Jefferies Financial Group Inc. acquired a new position in GlycoMimetics in the 4th quarter worth $106,000. Wellington Management Group LLP purchased a new position in GlycoMimetics in the fourth quarter valued at about $352,000. Finally, VR Adviser LLC acquired a new stake in GlycoMimetics in the fourth quarter valued at $747,000. 75.19% of the stock is currently owned by institutional investors and hedge funds.

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.