GlycoMimetics (NASDAQ:GLYC) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a research note released on Saturday. The firm issued a sell rating on the biotechnology company’s stock.

Separately, Cantor Fitzgerald initiated coverage on GlycoMimetics in a research note on Friday. They issued an “overweight” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.00.

GlycoMimetics Stock Performance

NASDAQ GLYC opened at $0.27 on Friday. The business has a fifty day moving average price of $0.27 and a two-hundred day moving average price of $0.26. GlycoMimetics has a fifty-two week low of $0.14 and a fifty-two week high of $3.18.

GlycoMimetics (NASDAQ:GLYC) last released its earnings results on Thursday, February 13th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.05. As a group, research analysts predict that GlycoMimetics will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GLYC. Wellington Management Group LLP bought a new position in shares of GlycoMimetics in the 4th quarter valued at $352,000. ADAR1 Capital Management LLC increased its holdings in GlycoMimetics by 626.1% in the fourth quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 286,127 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in GlycoMimetics in the fourth quarter valued at $1,268,000. Caxton Corp acquired a new stake in GlycoMimetics in the fourth quarter valued at $51,000. Finally, Jefferies Financial Group Inc. acquired a new stake in GlycoMimetics in the fourth quarter valued at $106,000. 75.19% of the stock is currently owned by 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.