GlycoMimetics (NASDAQ:GLYC) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

Shares of GlycoMimetics, Inc. (NASDAQ:GLYC) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.25 and traded as low as $0.25. GlycoMimetics shares last traded at $0.26, with a volume of 237,630 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on GlycoMimetics in a report on Friday. They set a “sell” rating on the stock.

GlycoMimetics Price Performance

The firm has a 50-day moving average price of $0.27 and a two-hundred day moving average price of $0.25.

GlycoMimetics (NASDAQ:GLYC) last issued its earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. On average, sell-side analysts anticipate that GlycoMimetics, Inc. will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Caxton Corp bought a new position in GlycoMimetics in the fourth quarter worth $51,000. ADAR1 Capital Management LLC raised its stake in GlycoMimetics by 626.1% during the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock worth $83,000 after acquiring an additional 286,127 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in GlycoMimetics during the fourth quarter worth $106,000. Wellington Management Group LLP acquired a new position in GlycoMimetics during the fourth quarter worth $352,000. Finally, VR Adviser LLC acquired a new position in GlycoMimetics during the fourth quarter worth $747,000. 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.