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

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

A number of other research analysts have also recently issued reports on the company. Capital One Financial cut GlycoMimetics from an “overweight” rating to an “equal weight” rating in a research note on Monday, May 6th. HC Wainwright reaffirmed a “neutral” rating on shares of GlycoMimetics in a research note on Tuesday, June 4th.

GlycoMimetics Stock Up 2.6 %

NASDAQ GLYC opened at $0.24 on Thursday. The stock’s 50-day simple moving average is $0.28 and its two-hundred day simple moving average is $1.73. GlycoMimetics has a twelve month low of $0.20 and a twelve month high of $3.53. The company has a market capitalization of $15.55 million, a price-to-earnings ratio of -0.42 and a beta of 2.19.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). On average, equities analysts expect that GlycoMimetics will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GlycoMimetics news, insider Edwin Rock bought 190,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average cost of $0.25 per share, with a total value of $47,500.00. Following the completion of the purchase, the insider now directly owns 565,403 shares of the company’s stock, valued at $141,350.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.70% of the stock is owned by insiders.

Institutional Trading of GlycoMimetics

Several large investors have recently bought and sold shares of GLYC. Vanguard Group Inc. boosted its position in GlycoMimetics by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after acquiring an additional 340,112 shares in the last quarter. Advisor OS LLC purchased a new position in GlycoMimetics in the 4th quarter worth approximately $238,000. Finally, MJP Associates Inc. ADV purchased a new position in GlycoMimetics in the 4th quarter worth approximately $238,000. 75.19% of the stock is owned by institutional investors.

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.