Public Equities L.P. Invus Sells 61,488 Shares of GlycoMimetics, Inc. (NASDAQ:GLYC) Stock

GlycoMimetics, Inc. (NASDAQ:GLYC) major shareholder Public Equities L.P. Invus sold 61,488 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $0.18, for a total value of $11,067.84. Following the sale, the insider now directly owns 6,578,438 shares of the company’s stock, valued at $1,184,118.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Public Equities L.P. Invus also recently made the following trade(s):

• On Monday, August 5th, Public Equities L.P. Invus sold 164,523 shares of GlycoMimetics stock. The stock was sold at an average price of $0.19, for a total value of $31,259.37.
• On Thursday, August 1st, Public Equities L.P. Invus sold 63,564 shares of GlycoMimetics stock. The stock was sold at an average price of $0.22, for a total value of $13,984.08.
• On Monday, July 29th, Public Equities L.P. Invus sold 363,949 shares of GlycoMimetics stock. The stock was sold at an average price of $0.24, for a total value of $87,347.76.
• On Friday, July 26th, Public Equities L.P. Invus sold 258,335 shares of GlycoMimetics stock. The stock was sold at an average price of $0.24, for a total value of $62,000.40.

GlycoMimetics Trading Down 4.1 %

Shares of NASDAQ:GLYC traded down $0.01 on Friday, reaching $0.18. The company had a trading volume of 1,025,313 shares, compared to its average volume of 2,209,104. GlycoMimetics, Inc. has a 52-week low of $0.17 and a 52-week high of $3.53. The firm’s 50 day simple moving average is $0.26 and its 200-day simple moving average is $1.55. The firm has a market capitalization of $11.60 million, a PE ratio of -0.31 and a beta of 2.19.

GlycoMimetics (NASDAQ:GLYC) last announced its quarterly earnings results 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). As a group, equities research analysts predict that GlycoMimetics, Inc. will post -0.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of GlycoMimetics by 14.0% in 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 during the period. Renaissance Technologies LLC increased its holdings in shares of GlycoMimetics by 483.5% in the 2nd quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock valued at $233,000 after acquiring an additional 685,151 shares during the period. Acadian Asset Management LLC increased its holdings in shares of GlycoMimetics by 61.8% in the 2nd quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock valued at $150,000 after acquiring an additional 204,227 shares during the period. Finally, Advisor OS LLC purchased a new position in shares of GlycoMimetics in the 4th quarter valued at $238,000. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on GLYC. HC Wainwright restated a “neutral” rating on shares of GlycoMimetics in a report on Tuesday, June 4th. StockNews.com began coverage on GlycoMimetics in a report on Friday, August 2nd. They set a “sell” rating on the stock. Capital One Financial downgraded GlycoMimetics from an “overweight” rating to an “equal weight” rating in a report on Monday, May 6th. Finally, TD Cowen downgraded GlycoMimetics from a “buy” rating to a “hold” rating in a report on Friday, July 26th.

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.