Insider Selling: GlycoMimetics, Inc. (NASDAQ:GLYC) Major Shareholder Sells $11,067.84 in Stock

GlycoMimetics, Inc. (NASDAQ:GLYC) major shareholder Public Equities L.P. Invus sold 61,488 shares of GlycoMimetics 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 completion of the sale, the insider now owns 6,578,438 shares of the company’s stock, valued at $1,184,118.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock 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 transaction of $31,259.37.
• On Thursday, August 1st, Public Equities L.P. Invus sold 63,564 shares of GlycoMimetics stock. The shares were sold at an average price of $0.22, for a total transaction of $13,984.08.
• On Monday, July 29th, Public Equities L.P. Invus sold 363,949 shares of GlycoMimetics stock. The shares were sold at an average price of $0.24, for a total transaction 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 transaction of $62,000.40.

GlycoMimetics Trading Down 4.1 %

Shares of GlycoMimetics stock opened at $0.18 on Monday. The stock has a fifty day simple moving average of $0.26 and a 200 day simple moving average of $1.52. GlycoMimetics, Inc. has a 12-month low of $0.17 and a 12-month high of $3.53. The company has a market capitalization of $11.60 million, a P/E ratio of -0.31 and a beta of 2.19.

GlycoMimetics (NASDAQ:GLYC) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). On average, analysts predict that GlycoMimetics, Inc. will post -0.61 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on GLYC shares. HC Wainwright reaffirmed a “neutral” rating on shares of GlycoMimetics in a research report on Tuesday, June 4th. TD Cowen cut shares of GlycoMimetics from a “buy” rating to a “hold” rating in a report on Friday, July 26th. StockNews.com started coverage on shares of GlycoMimetics in a research report on Saturday. They set a “sell” rating for the company. Finally, Capital One Financial cut shares of GlycoMimetics from an “overweight” rating to an “equal weight” rating in a research report on Monday, May 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in 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 buying an additional 685,151 shares during the last quarter. Acadian Asset Management LLC boosted its stake 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 worth $150,000 after buying an additional 204,227 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 acquiring an additional 340,112 shares in the last quarter. Finally, Advisor OS LLC purchased a new stake in shares of GlycoMimetics during the fourth quarter valued at approximately $238,000. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

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.