GlycoMimetics (NASDAQ:GLYC) Downgraded by TD Cowen

TD Cowen cut shares of GlycoMimetics (NASDAQ:GLYC) from a buy rating to a hold rating in a report published on Friday, Marketbeat Ratings reports.

Several other analysts also recently weighed in on the company. Capital One Financial downgraded GlycoMimetics from an overweight rating to an equal weight rating in a research note on Monday, May 6th. StockNews.com started coverage on GlycoMimetics in a research note on Thursday, July 25th. They set a sell rating for the company. Finally, HC Wainwright restated a neutral rating on shares of GlycoMimetics in a research note on Tuesday, June 4th.

GlycoMimetics Trading Down 3.3 %

Shares of NASDAQ GLYC opened at $0.23 on Friday. GlycoMimetics has a 12-month low of $0.20 and a 12-month high of $3.53. The company has a market cap of $15.03 million, a P/E ratio of -0.40 and a beta of 2.19. The stock has a fifty day moving average price of $0.28 and a 200 day moving average price of $1.69.

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

Insider Transactions at GlycoMimetics

In related news, insider Edwin Rock purchased 190,000 shares of GlycoMimetics stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $0.25 per share, with a total value of $47,500.00. Following the completion of the transaction, the insider now owns 565,403 shares of the company’s stock, valued at approximately $141,350.75. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On GlycoMimetics

A hedge fund recently raised its position in GlycoMimetics stock. Vanguard Group Inc. boosted its holdings in GlycoMimetics, Inc. (NASDAQ:GLYC) by 14.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,761,981 shares of the biotechnology company’s stock after acquiring an additional 340,112 shares during the period. Vanguard Group Inc. owned about 4.29% of GlycoMimetics worth $8,286,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 75.19% of the company’s stock.

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.