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

StockNews.com began coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research report sent to investors on Wednesday. The brokerage issued a sell rating on the biotechnology company’s stock.

Other analysts have also recently issued research reports about the company. Capital One Financial cut GlycoMimetics from an overweight rating to an equal weight rating in a research report on Monday, May 6th. HC Wainwright reaffirmed a neutral rating on shares of GlycoMimetics in a research report on Monday, May 6th.

GlycoMimetics Stock Performance

Shares of GlycoMimetics stock opened at $0.27 on Wednesday. The stock’s fifty day moving average price is $1.77 and its 200-day moving average price is $2.24. The firm has a market cap of $17.40 million, a P/E ratio of -0.47 and a beta of 2.30. GlycoMimetics has a 12 month low of $0.26 and a 12 month high of $3.53.

GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Wednesday, March 27th. The biotechnology company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $0.01 million for the quarter. Analysts forecast that GlycoMimetics will post -0.63 earnings per share for the current year.

Institutional Investors Weigh In On GlycoMimetics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor OS LLC purchased a new position in GlycoMimetics in the fourth quarter worth $238,000. MJP Associates Inc. ADV purchased a new position in GlycoMimetics during the 4th quarter worth $238,000. Acuta Capital Partners LLC acquired a new position in GlycoMimetics during the 3rd quarter valued at about $41,000. Finally, Vanguard Group Inc. raised its stake in GlycoMimetics by 14.0% in the first quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock valued at $8,286,000 after buying an additional 340,112 shares during the last 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.